Western Union Is Said to Make Offer to Buy MoneyGram (2)

Western Union Co. is seeking to acquire MoneyGram International Inc. in a transaction that would bring together two of the largest U.S. providers of money-transfer services, according to a person familiar with the matter.

Western Union has made a takeover offer for MoneyGram, said the person, who asked not to be identified because the matter isn’t public. No decision has been made and Western Union could opt to proceed without a deal, the person said.

Representatives for Western Union and MoneyGram declined to comment.

The business has been in decline as more people use online payments. Financial-technology upstarts have taken ...