The Western Union Company has terminated its agreement to acquire International Money Express, Inc. (IMXI), citing unacceptable conditions imposed by the California Department of Financial Protection and Innovation (DFPI). The termination became effective on November 12, 2026.
The deal, originally agreed upon on August 10, 2025, was a merger of Western Union’s subsidiary into IMXI. The transaction had been approved in 54 other jurisdictions, including the U.S., U.K., and Spain. However, the parties were unable to obtain an acceptable approval from the California regulator.
On November 10, 2026, the DFPI delivered final Conditions of Approval that Western Union stated would have required material changes to its business model, agent relationships, and long-term strategy. The company noted that California did not identify any failures regarding fraud prevention, money laundering, or customer access, and that Western Union remains in compliance with its Federal Trade Commission consent order.
Under the terms of the Merger Agreement, neither party is required to pay a termination fee to the other. Western Union’s Board of Directors determined that the conditions were not in the best interests of the company or its shareholders. Following the termination, IMXI’s legal counsel sent a letter asserting that Western Union did not use reasonable best efforts to obtain approval and threatened litigation, a stance Western Union disputes and intends to defend against.
