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CENTER VALLEY, Pa. & EYSINS, Switzerland - Shift4 (NYSE: FOUR), a prominent integrated payments and commerce technology provider, has agreed to acquire Global Blue (NYSE: GB), a leader in tax-free shopping and payments technology, for $7.50 per share in cash. This offer represents a 15% premium on Global Blue’s February 14, 2025 closing share price, valuing the company at approximately $2.5 billion.
Global Blue, with a history spanning over 40 years, is renowned for its tax-refund and currency conversion technology, serving more than 400,000 retail and hospitality locations worldwide. The acquisition by Shift4, which has demonstrated robust revenue growth of 31.37% in the last twelve months, aims to enhance its unified commerce capabilities and expand its global reach. For detailed insights into Shift4’s growth trajectory and 14 additional ProTips, visit InvestingPro.
Shift4 President Taylor Lauber emphasized the acquisition as a significant opportunity to integrate Global Blue’s merchant solutions into Shift4’s payments platform, enhancing end-to-end experiences for merchants and unlocking new revenue opportunities. Global Blue CEO Jacques Stern (AS:PBHP) expressed enthusiasm for the next phase of growth and innovation that the merger with Shift4 will bring for stakeholders in the shopping ecosystem.
The transaction also includes strategic partnership considerations with two of Global Blue’s current shareholders, Ant International and Tencent (HK:0700), who plan to remain invested in the combined entity. These partnerships are expected to explore global e-commerce payment products, including Alipay+ and Weixin Pay. Shift4’s strong liquidity position, with a current ratio of 2.98, provides solid financial backing for this strategic expansion. Discover more comprehensive financial metrics and exclusive insights about Shift4 in the Pro Research Report, available on InvestingPro.
The acquisition, approved by both companies’ boards of directors, is anticipated to close by the third quarter of 2025, pending regulatory approvals and a minimum tender of at least 90% of Global Blue’s issued and outstanding shares. Shift4 plans to finance the purchase with cash on hand and a bridge loan facility.
Tom Farley, Chairman of Global Blue, endorsed the transaction on behalf of the board, highlighting the immediate value for shareholders and the benefits for employees, customers, and stakeholders.
Goldman Sachs & Co. LLC and Latham & Watkins LLP, along with other advisors, are assisting Shift4 in the acquisition process. J.P. Morgan Securities LLC is the lead financial advisor for Global Blue, supported by multiple financial and legal advisors.
This acquisition is based on a press release statement and is subject to regulatory approvals and other customary closing conditions. Investors and security holders are advised to read the relevant documents filed with the SEC once available, as they will contain important information about the tender offer.
In other recent news, Shift4 Payments is experiencing significant developments. Both DA Davidson and BTIG have raised their stock target for Shift4 Payments to $140, maintaining a Buy rating. The adjustments, announced by analysts Peter Heckmann and Hal Goetsch respectively, come ahead of the company’s fourth-quarter earnings report and Investor Day. Analysts anticipate that Shift4 Payments will meet or surpass current forecasts and consensus estimates.
In addition, an RBC analyst has highlighted an optimistic outlook for American small and medium-sized businesses, which may boost technology investments in companies including Shift4 Payments. Meanwhile, Keefe, Bruyette & Woods maintained an Outperform rating and a $112.00 price target on Shift4 Payments despite the company’s CEO, Jared Isaacman, being nominated for the role of NASA Administrator.
However, Benchmark has downgraded Shift4 Payments’ shares from Buy to Hold following Isaacman’s nomination, removing its previous price target of $99. The firm advises investors to exercise caution due to uncertainties surrounding the company’s future execution of its strategic plans without Isaacman’s guidance. These are recent developments in the ongoing narrative of Shift4 Payments.
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