Amex GBT Acquires CWT for $570 Million in Cash and Stock: A Merger Set to Revolutionize the Business Travel Industry

American Express Global Business Travel to Acquire Carlson Wagonlit Travel

CWT has announced that it will be acquired by American Express Global Business Travel (Amex GBT) for $570 million in cash and stock. This merger is one of the largest in the industry’s recent history and is subject to approval from shareholders and regulatory authorities, with a targeted completion date in the second half of 2024.

The boards of directors for both companies have given their approval for the merger, which is expected to bring many benefits. The combined company will offer customers more choice, provide more opportunities for employees, and increase value for shareholders. Amex GBT CEO Paul Abbott highlighted the benefits of combining CWT’s services with Amex GBT’s software model, predicting that the merged company will generate approximately $850 million in revenue and $70-$80 million in adjusted earnings before interest, taxes, depreciation and amortization in 2024.

CWT CEO Patrick Andersen expressed his confidence in the value creation potential of the merged entity, emphasizing the shared vision for a tech-enabled future in business travel. The combination of Amex GBT and CWT aims to leverage both human expertise and technology to provide exceptional customer experiences. Further updates on the merger will be provided as necessary.

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