American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT
The Company continues to defend itself against a lawsuit filed in January 2025 by the Antitrust Division of the
Eric J. Bock, GBT’s Chief Legal Officer and Global Head of M&A stated: “The updated provisional conclusions by the CMA is an important milestone toward the consummation of the transaction. The CMA’s revised findings reinforce the Company’s belief that the DOJ’s lawsuit is fundamentally flawed, taking a narrow and outdated view of competition, and disregarding the emergence of numerous significant competitors in business travel.”
Paul Abbott, Amex GBT’s CEO said: “If consummated, this transaction will accelerate investment and innovation in business travel, creating more choice and value for customers and suppliers, and more opportunities for CWT employees.”
The Company previously announced on March 25, 2024, that it agreed to acquire CWT, subject to the satisfaction of customary closing conditions, including the receipt of certain regulatory approvals.
About Amex GBT
Amex GBT is a leading software and services company for travel, expense, and meetings & events. We have built the most valuable marketplace in travel with the most comprehensive and competitive content. A choice of solutions brought to you through a strong combination of technology and people, delivering the best experiences, proven at scale. With travel professionals and business partners in more than 140 countries, our solutions deliver savings, flexibility, and service from a brand you can trust – Amex GBT.
Visit amexglobalbusinesstravel.com for more information about Amex GBT. Follow @amexgbt on Twitter, LinkedIn and Instagram.
Forward-Looking Statements
This communication contains statements that are forward-looking and as such are not historical facts. This includes, without limitation, statements regarding our current expectations or forecasts of future events. These statements constitute projections, forecasts and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "will," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements contained in this communication are based on our current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us, including as a result of the transaction, will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following risks, uncertainties and other factors: (1) changes to projected financial information or our ability to achieve our anticipated growth rate and execute on industry opportunities; (2) our ability to maintain our existing relationships with customers and suppliers and to compete with existing and new competitors; (3) various conflicts of interest that could arise among us, affiliates and investors; (4) our success in retaining or recruiting, or changes required in, our officers, key employees or directors; (5) factors relating to our business, operations and financial performance, including market conditions and global and economic factors beyond our control; (6) the impact of geopolitical conflicts, including the war in
View source version on businesswire.com: https://www.businesswire.com/news/home/20250218376815/en/
Media:
Megan Kat
Senior Director Global Communications and Public Affairs
megan.kat@amexgbt.com
Investors:
George Anderson-Brown
Vice President of Finance
investor@amexgbt.com
Source: Global Business Travel Group, Inc.