American Express Global Business Travel and CWT Announce Merger to Expand Customer Choice and Create More Opportunities for Employees

American Express Global Business Travel to Acquire Carlson Wagonlit Travel

American Express Global Business Travel (Amex GBT) and rival travel management company CWT have announced plans to merge in a deal worth $570 million in cash and stock. The acquisition is expected to expand customer choice, create more opportunities for employees, and increase value for shareholders.

Both companies’ boards of directors have approved the merger, with Amex GBT CEO Paul Abbott 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 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. The deal is subject to approval from shareholders and regulatory authorities, with a targeted completion date in the second half of 2024.

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