BUZZ-Payments processor Shift4 slides after $2.5 billion deal to buy Global Blue, Q4 results

Reuters
02-19
BUZZ-Payments processor Shift4 slides after $2.5 billion deal to buy Global Blue, Q4 results

** Shares of payments processor Shift4 FOUR.N fall 10.3% to $112.69 premarket

** FOUR late Tuesday announced a $2.5 billion deal to buy travel- and retail-focused financial technology platform Global Blue GB.N

** The deal is expected to close by Q3 2025

** FOUR will pay $7.50/shr for the company, representing a 15% premium to GB's closing price on February 14

** GB stock jumps 18.3% in premarket trading

** Two existing GB investors, Ant International and Tencent 0700.HK, intend to remain shareholders in the combined business

** Meanwhile, FOUR's Q4 revenue of $887 million missed analysts' expectations of $1.01 billion, according to estimates compiled by LSEG

** Citi analyst Andrew Schmidt says a stock breather after the recent run would not be surprising

** Raymond James says GB is a great strategic fit, adding that FOUR's execution on its M&A playbook "has been nothing short of impressive"

** FOUR stock jumped 39.6% in 2024

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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