Merger deals move in different directions: an ending, an extension, a new signing

Western Union ends its deal

Western Union entered into a merger agreement with International Money Express, Inc. on August 10, 2025. Western Union delivered a notice of termination of the merger agreement to International Money Express on November 10, 2026, and the termination became effective at 12:00 a.m. Eastern time on November 12, 2026. No termination fee is payable by either party in connection with the termination of the merger agreement. m:…0711

The California Department of Financial Protection and Innovation delivered final Conditions of Approval on November 10, 2026, the same day Western Union delivered its termination notice. The filing does not explain any link between the conditions and the termination. m:…0711

The ending is disputed. International Money Express's legal counsel asserted that Western Union's termination notice was invalid on November 10, 2026, and International Money Express threatened legal action in the event that Western Union did not consummate the merger. Western Union intends to vigorously defend against any lawsuit initiated by International Money Express, so the dispute could end up in a courtroom rather than with a filing. m:…0711

GoPro buys time

GoPro, Inc. entered into Amendment No. 1 to the Agreement and Plan of Merger on November 6, 2026. The merger outside date was extended from December 31, 2026, to March 31, 2027, which gives the parties more time to close. m:…6399

The amendment also settles points of mechanics. The surviving corporation will retain the existing certificate of incorporation of GoPro, Inc. at the Effective Time, and the amendment introduces an equitable adjustment mechanism for merger consideration in the event of stock splits or reclassifications. The amendment settles in advance how the consideration would adjust if the capital structure changes before closing. m:…6399

BCP signs a new merger

BCP Investment Corporation entered into an Agreement and Plan of Merger with Investcorp Credit Management BDC, Inc. on November 11, 2026. The merger consideration includes BCIC common stock capped at 19.99% of BCIC shares outstanding as of November 11, 2026, and key stockholders representing approximately 41% of ICMB common stock have agreed to vote in favor of the merger. The merger is intended to be treated as a reorganization under Section 368(a) of the Internal Revenue Code. m:…0125

ICMB must pay BCIC a termination fee of $1,309,460.46 if the merger agreement is terminated under specified circumstances, and the maximum expense reimbursement payment to BCIC if the merger is not approved is $1,500,000. BCIC may be required to pay cash if the aggregate share consideration value is less than 90% of the ICMB closing net asset value, which puts a floor under what ICMB holders receive. m:…0125

A $500,000 holdback fund will be established to satisfy potential pre-merger tax liabilities of ICMB, and the balance of the holdback amount, net of tax liabilities, is scheduled to be released on or after October 15, 2027. The merger agreement includes no-shop provisions restricting ICMB from soliciting alternative acquisition proposals, m:…0125

Deals moving in different directions

The filings show a merger market moving in different directions at once. A deal ended with a dispute over whether the termination was valid, a deadline was extended by moving its outside date to March 31, 2027, and a deal was signed with its termination fee, holdback and voting support set out in advance. The Western Union dispute bears watching: the filing says the company will defend any lawsuit, and the other side has already threatened legal action. m:…0711 m:…6399 m:…0125