Shares of Global Business Travel Group, Inc. (GBTG) rallied sharply after announcing a buyout agreement.
The stock is currently trading at $9.35, up $3.42 or 57.59%, on the NYSE. It opened at $9.31 after closing the previous session at $5.93. The stock has traded between $4.95 and $9.39 over the past 52 weeks.
Global Business Travel Group said it has agreed to be acquired by Long Lake Management in an all-cash deal valued at about $6.3 billion.
Under the terms, shareholders will receive $9.50 per share in cash, representing a premium of over 60% to the prior closing price.
The transaction is expected to close in the second half of 2026, subject to shareholder and regulatory approvals.
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