Ant Financial put in a monster bid for MoneyGram last week as it aims to fend off offers from other prospective buyers like Euronet Worldwide.

Ant Financial’s new bid — $18 per share — is 38 percent higher than its previous bid at $13.25 per share.

But the politics of this deal are still murky.

More from Bloomberg:

By raising its bid such a large amount, Ant Financial is making clear its intention of completing a deal, said Doug Feagin, Ant’s international president. But the Chinese company could still face potential political obstacles, with American lawmakers urging the powerful Committee on Foreign Investment in the U.S. to conduct a “full and thorough” review of the deal.


President Donald Trump has taken a hard stance on China since assuming office, increasing the chance Ant Financial’s bid will be closely scrutinized by CFIUS, an inter-agency panel that examines acquisitions of companies by foreign investors. The White House can stop the deal, and Treasury Secretary Steven Mnuchin is the chairman of the panel.

Ant Financial’s bid is a clear shot across the bow against Euronet, which directly raised security concerns with Mnuchin and has said doubts around approval are a key reason why MoneyGram shareholders should reject its Chinese rival’s offer.

Ant expects to close the offer in the 2nd half of 2017.

Photo by Mike Mozart via Flickr CC License