American Express Global Business Travel taken private in $6.3B deal
American Express Global Business Travel (Amex GBT) is being taken private in a $6.3 billion deal led by Long Lake Management, with backing from General Catalyst and Alpha Wave. Shareholders will receive $9.50 per share, representing a 60% premium to the previous Friday's closing price. The transaction values the company at approximately $6.3 billion, including debt. Amex GBT, a corporate travel management firm, was spun off from American Express in 2014 and went public via a SPAC merger in 2022. The deal is expected to close in the first half of 2025, subject to regulatory approvals and shareholder vote.
Key facts
- Long Lake Management leads the acquisition, backed by General Catalyst and Alpha Wave.
- Shareholders will receive $9.50 per share, a 60% premium to Friday's close.
- The deal values Amex GBT at $6.3 billion including debt.
- Amex GBT was spun off from American Express in 2014.
- The company went public via a SPAC merger in 2022.
- Transaction expected to close in first half of 2025.
Entities
Institutions
- American Express Global Business Travel
- Long Lake Management
- General Catalyst
- Alpha Wave
- American Express
Sources
- Quartz —