OzForex co-founder's big winner from Western Union bid

Shaun Drummond, Sarah Thompson, Anthony Macdonald, Joyce Moullakis and Michael Bailey

Updated Nov 20, 2015 – 8.40am, first published at Nov 19, 2015 – 10.06am

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OzForex co-founder Matthew Gilmour expects other bidders to emerge for the company after global payments giant Western Union made a stunning $888 million takeover offer bid for the company.

As revealed by Street Talk Online on Wednesday, Western Union has offered to buy the online foreign exchange company for as much as $3.70 a share, which is up to $1.10 above its Wednesday closing share price of $2.60 and its average over the past six months of $2.47.

Shaun Drummond writes on financial services from our Sydney newsroom.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.

Joyce Moullakis writes on banking and finance, specialising in investment banking, private equity, and financial services.

Michael Bailey writes on arts and culture, and edits Weekend Fin. He is a former editor of the Financial Review Rich List. He is based in Sydney.