American Express Global Business Travel Agrees to $6.3 Billion Take-Private Deal
By Connor Hart
American Express Global Business Travel is being taken private in an all-cash acquisition by Long Lake Management for $9.50 a share, valuing the company at about $6.3 billion.
The purchase price represents a roughly 60% premium to Amex GBT's closing stock price on May 1, as well as an approximately 65% premium to its 30-day volume-weighted average price, Long Lake said Monday.
Shares of Global Business Travel Group jumped 58%, to $9.34, in premarket trading.
Stockholders including American Express, Expedia Group, Qatar Investment Authority and BlackRock--collectively representing about 69% of outstanding shares--have entered voting agreements to support the transaction, Long Lake said.
Amex GBT said the merger, expected to close in the second half of 2026, was unanimously recommended by a special committee of independent directors and approved by its board.
Separately, American Express said it will sell its roughly 30% equity stake in Global Business Travel Group as part of the transaction.
Upon closing, American Express expects proceeds of about $1.5 billion and a pre-tax gain of approximately $975 million. The company said the gain wasn't included in its previously issued 2026 earnings guidance.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 04, 2026 08:26 ET (12:26 GMT)
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