Shares of Global Blue Group Holdings (NYSE:GB) surged at the time of writing as Silver Lake is considering putting it up for sale, according to Reuters. The Switzerland-based company, with a specialty in tax-free shopping tech for retailers, is on the rebound after the pandemic-induced dip in air travel and duty-free shopping.
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Although Global Blue faces challenges, like inflation and a potential European recession, it’s confident about navigating them. The firm, currently valued at around $1 billion, attracted interest from prospective buyers, prompting Silver Lake to weigh its options with the help of an investment bank.
A look at the past five trading days for GB stock highlights the level of impact today’s news had on it. Indeed, shares jumped over 9% at the time of writing. As a result, investors are now up 1.87% during this timeframe.
