American Express Global Business Travel or Amex GBT, which is operated by Global Business Travel Group, Inc. (GBTG), a leading software and services company for travel, announced Monday that it has entered into a definitive agreement to be acquired by Long Lake Management in an all-cash transaction valued at approximately $6.3 billion.
Under the terms of the agreement, Amex GBT shareholders will receive $9.50 per share in cash, which represents a 60.2 percent premium to Amex GBT's closing stock price on May 1, 2026, the last full trading day prior to the transaction announcement.
The acquisition combines Long Lake's applied AI capabilities with Amex GBT's marketplace, customer relationships and technology solutions to make business travel faster, smarter and more seamless for every traveller.
Following the unanimous recommendation of the Special Committee, the Amex GBT Board of Directors approved the merger agreement with Long Lake. The transaction is expected to close in the second half of 2026 subject to the satisfaction of customary closing conditions, including approval by Amex GBT's stockholders and receipt of requisite regulatory clearances.
Major shareholders collectively representing 69 percent of GBT's shares have entered into voting agreements in support of the transaction, including American Express, Expedia, Qatar Investment Authority, and BlackRock.
The consummation of the merger is not subject to any financing condition. The transaction is being financed with a combination of equity provided by Long Lake's existing investors and Koch Equity Development LLC and committed debt financing provided by JPMorgan, Bank of America, Citi, and MUFG.
Upon completion of the transaction, Amex GBT's common stock will no longer be publicly listed, and Amex GBT will become a privately held company.
American Express brand licensing agreement to remain in place, ensuring continuity for clients, partners and travelers worldwide.
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