• Thu. Jun 13th, 2024

Amex GBT and CWT Announce Merger in $570 Million Deal

BySamantha Johnson

Mar 25, 2024
American Express Global Business Travel to Acquire Carlson Wagonlit Travel

American Express Global Business Travel (Amex GBT) and CWT, two leading players in the travel management industry, have announced plans to merge in a $570 million deal. The merger is expected to expand customer choice, create more opportunities for employees, and increase value for shareholders.

The deal is subject to approval from shareholders and regulatory authorities, with a targeted completion date in the second half of 2024. Both companies’ boards of directors have given their approval for the merger.

Amex GBT CEO Paul Abbott highlighted the benefits of combining CWT’s services with Amex GBT’s software model. He predicted 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.

By Samantha Johnson

As a dedicated content writer at newsanguinely.com, I weave words into compelling stories that captivate and inform our readers. With a passion for storytelling and a keen eye for detail, I craft engaging articles that shed light on the latest news and trends. When I'm not typing away at my keyboard, you can find me exploring new ideas, researching diverse topics, and striving to deliver content that resonates with our audience. Join me on this journey as we uncover the stories that matter most.

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