By Dean Seal
Shares of Shift4 Payments slid after it said it would buy Global Blue Group, whose shares have surged close to the proposed deal price.
Shift4 stock was down 14% at $108.11 in early trading, erasing most of its year-to-date gains. Shares of Global Blue, meanwhile, jumped 18% to $7.33.
That's close to the $7.50 per-share price that Shift4 said it would pay for Global Blue, a provider of tax-free shopping services, as the payments processor looks to add more top retailers to its customer list.
Global Blue helps retailers such as Prada, Nike and Ikea manage tax-free shopping transactions, and also gives shoppers currency-conversion and tax-refund services.
Shift4's chief executive and chairman, Taylor Lauber, has been nominated by Donald Trump to serve as the next leader of NASA.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
Shift4's chief executive and chairman, Jared Isaacman, has been nominated by Donald Trump to serve as the next leader of NASA. "Shift4 Slumps While Global Blue Stock Climbs Toward Deal Price" at 10:06 a.m. ET misstated that President Taylor Lauber was the nominee.
(END) Dow Jones Newswires
February 19, 2025 11:01 ET (16:01 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.