The Western Union Company (NYSE:WU) will look for M&A. Matthew Cagwin, Chief Financial Officer said, "Our strong free cash flow and disciplined expense management allowed us to continue to maintain a strong balance sheet with cash and cash equivalents of $1.3 billion and debt of $2.5 billion. Our leverage ratio remains strong, and we're at 2.4x and 1.2x on a gross and net basis, which provides us flexibility for potential M&A, while maintaining our investment-grade credit rating".