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CENTER VALLEY, Pa. - Shift4 Payments, Inc. (NYSE: FOUR), a leader in commerce-enabling technology with an $8 billion market capitalization and impressive 27% revenue growth over the last twelve months, announced on Wednesday an extension of its all-cash tender offer to acquire all outstanding shares of Global Blue Group Holding AG (NYSE: GB). According to InvestingPro data, Shift4 maintains a "GOOD" financial health rating, with analysts having recently revised earnings estimates upward for the upcoming period. This move comes as part of a transaction agreement that was initially dated February 16, 2025, and later joined by GT Holding 1 GmbH, Shift4’s subsidiary, on February 25, 2025.
The tender offer, which is contingent upon certain conditions including regulatory approvals and other customary closing conditions, has reportedly met its minimum tender condition with a ninety percent threshold achieved. Global Blue’s board has unanimously recommended that shareholders tender their shares in response to the offer. For investors seeking deeper insights, InvestingPro offers comprehensive analysis with over 10 additional ProTips and detailed financial metrics in their Pro Research Report, available for more than 1,400 US stocks.
As of Tuesday, approximately 232.15 million shares have been tendered, amounting to 96.66% of Global Blue’s issued and outstanding shares. Shareholders who have already tendered their shares need not take any further action due to this extension. The offer will now remain open until just after midnight on June 5, 2025, subject to potential further extensions.
Equiniti Trust Company, LLC serves as the depositary and paying agent for the tender offer, while D.F. King & Co., Inc. is the information agent. Shareholders seeking assistance with the tender process may contact D.F. King & Co., Inc.
The transaction is anticipated to be finalized by the third quarter of 2025, as previously stated. With Shift4’s strong profitability metrics, including a 30% gross profit margin and positive earnings yield, the company appears well-positioned for this strategic move. Full terms and conditions of the tender offer are detailed in documents filed with the Securities and Exchange Commission (SEC), which are available to Global Blue shareholders at no cost and can be accessed on the SEC’s website. Investors can access detailed financial analysis and Fair Value estimates through InvestingPro’s comprehensive research platform.
This press release, while providing forward-looking statements regarding the acquisition’s expected benefits and completion, acknowledges that such statements are subject to risks, uncertainties, and other factors that could lead to materially different outcomes. Shift4 emphasizes that it has no obligation to update forward-looking statements in the future.
The information in this article is based on a press release statement.
In other recent news, Shift4 Payments has announced several significant financial maneuvers. The company has priced a debt offering to support its planned acquisition of Global Blue Group Holding AG, involving approximately €680 million in senior notes due 2033 and $550 million in senior notes due 2032. These proceeds, alongside a new secured term loan and a mandatory convertible preferred stock sale, are intended to fund the acquisition and potentially repay existing debt. Additionally, Shift4 Payments has initiated an underwritten public offering of 7,500,000 shares of its Series A Mandatory Convertible Preferred Stock, with the possibility of issuing additional shares to cover over-allotments.
Moody’s has upgraded Shift4 Payments’ corporate family rating to Ba3, reflecting expectations of a reduced debt to EBITDA ratio following the Global Blue acquisition. The rating outlook was revised to stable, taking into account the company’s strategic expansion and solid organic revenue growth. DA Davidson has maintained a Buy rating on Shift4 Payments, with a price target of $124, following the company’s robust first-quarter earnings and upward revision of its 2025 financial outlook. The firm noted that Shift4’s positive performance and strategic initiatives are expected to support sustained growth and profitability.
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