Amex GBT Acquires CWT for $570 Million in Cash and Stock: What the Merger Means for the Travel Management Industry”.

American Express Global Business Travel to Acquire Carlson Wagonlit Travel

In a major development for the travel management industry, American Express Global Business Travel (Amex GBT) has announced plans to acquire rival company CWT for $570 million in cash and stock. The deal is subject to approval from shareholders and regulatory authorities, with a targeted completion date in the second half of 2024.

Both Amex GBT and CWT have approved the merger, which is expected to bring significant benefits to customers, employees, and shareholders alike. The merged entity will offer a wider range of services and create more opportunities for staff, while also increasing value for investors. Amex GBT CEO Paul Abbott highlighted the potential 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 confidence in the value creation potential of the merger, 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.

In a major development for the travel management industry, American Express Global Business Travel (Amex GBT) has announced plans to acquire rival company CWT for $570 million in cash and stock. The deal is subject to approval from shareholders and regulatory authorities, with a targeted completion date in the second half of 2024. Both Amex…

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