Ant Financial Services Group has raised its bid for U.S. money-transfer company MoneyGram International Inc. to around $1.2 billion—topping a rival offer and making China’s biggest online-payments firm once more the leading contender in an increasingly politicized takeover battle. Ant Financial, which is controlled by Chinese e-commerce giant Alibaba Group Holding Ltd., has been looking to expand overseas and initially signed a deal...

Source: Wall Street Journal April 17, 2017 04:07 UTC