Amex GBT to Go Private in $6.3 Billion Acquisition by Long Lake, Shares Up 60%
GBTG sits 78% above its 52-week low of $4.955.
Summary
Global Business Travel Group (Amex GBT) has entered into a definitive agreement to be acquired by Long Lake Management for approximately $6.3 billion in an all-cash transaction. Shareholders will receive $9.50 per share, representing a substantial 60.2% premium to the last closing price and a 65.1% premium over the 30-day volume-weighted average price. This is a highly material event for GBTG shareholders, offering a significant and immediate cash return at a substantial premium. The transaction will result in Amex GBT becoming a privately held company, fundamentally altering the investment thesis. Major shareholders, including American Express, Expedia, Qatar Investment Authority, and BlackRock, collectively representing 69% of shares, have already committed to supporting the deal. The acquisition is expected to close in the second half of 2026, pending shareholder and regulatory approvals.
At the time of this announcement, GBTG was trading at $8.82 on NYSE in the Trade & Services sector, with a market capitalization of approximately $3.1B. The 52-week trading range was $4.96 to $8.64. This news item was assessed with positive market sentiment and an importance score of 10 out of 10. Source: Dow Jones Newswires.