Amex GBT and CWT Announce $570 Million Merger to Expand Customer Choice and Increase Value for Shareholders

American Express Global Business Travel to Acquire Carlson Wagonlit Travel

In a recent announcement, American Express Global Business Travel (Amex GBT) and rival travel management company CWT have revealed plans to merge for $570 million in cash and stock. The deal, which is subject to approval from shareholders and regulatory authorities, is expected to expand customer choice, create more opportunities for employees, and increase value for shareholders.

Both companies’ boards of directors have given their approval for the merger, which is expected to combine CWT’s services with Amex GBT’s software model. This merger 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. He believes that the combination of Amex GBT and CWT aims to leverage both human expertise and technology to provide exceptional customer experiences.

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 be able to provide an even more comprehensive range of services to its clients. He believes that this merger will enable both companies to continue providing innovative solutions that meet the evolving needs of their customers.

Further updates on the merger will be provided as necessary as both companies work towards a successful completion date in the second half of 2024.

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