American Express Global Business Travel Agrees to $6.3 Billion Take-Private Deal

Published: 2026-05-04 08:27:12 ET AXP

Published on 05/04/2026 at 08:27 am EDT

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 [email protected]

(END) Dow Jones Newswires

05-04-26 0826ET