American Express to Acquire TheFork for $700M; Reports May Delinquency and Write-Off Rates
AXP sits 17% above its 52-week low of $286.15.
Summary
American Express announced its intent to acquire TheFork, a European restaurant booking platform, for $700 million, with the deal expected to close by year-end 2026. This strategic acquisition adds approximately 75,000 bookable venues across 11 European countries. Additionally, the company reported May 2026 credit quality metrics, with U.S. small-business card member loans 30+ days delinquent at 1.4% and a net write-off rate of 2.6%. These figures follow the 8-K filed yesterday which indicated stabilizing write-off rates and decreasing delinquency, providing specific numbers for the market to assess the company's credit portfolio health.
At the time of this announcement, AXP was trading at $335.39 on NYSE in the Finance sector, with a market capitalization of approximately $228.8B. The 52-week trading range was $286.15 to $387.49. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.