Amex GBT Provides CWT Acquisition Update: Transaction Now Expected to Close in the First Quarter of 2025
American Express Global Business Travel (NYSE: GBTG) has announced an update on its proposed acquisition of CWT, a global business travel and meeting solutions provider. The transaction is now expected to close in the first quarter of 2025, later than initially anticipated. Amex GBT is working with regulatory authorities, including the UK Competition and Markets Authority (CMA) and the US Department of Justice's Antitrust Division, as they review the deal. The CMA has confirmed it will continue its review in a Phase 2 investigation.
Amex GBT remains committed to demonstrating how the acquisition will create synergies, increase investment and innovation capacity, and provide more choice for customers while maintaining a competitive business travel services environment. The company believes that a comprehensive Phase 2 analysis will highlight the benefits for customers and suppliers, as well as the continued competitiveness of the industry.
American Express Global Business Travel (NYSE: GBTG) ha annunciato un aggiornamento sulla sua proposta di acquisizione di CWT, un fornitore globale di soluzioni per viaggi d'affari e meeting. Si prevede che la transazione si concluda nel primo trimestre del 2025, più tardi rispetto a quanto inizialmente previsto. Amex GBT sta collaborando con le autorità di regolamentazione, inclusa la Competition and Markets Authority (CMA) del Regno Unito e la Divisione Antitrust del Dipartimento di Giustizia degli Stati Uniti, mentre esaminano l'accordo. La CMA ha confermato che proseguirà la sua revisione in un investigazione di Fase 2.
Amex GBT rimane impegnata a dimostrare come l'acquisizione creerà sinergie, aumenterà la capacità di investimento e innovazione e fornirà maggiore scelta ai clienti, mantenendo al contempo un ambiente competitivo per i servizi di viaggi d'affari. L'azienda crede che un'analisi completa della Fase 2 evidenzierà i benefici per clienti e fornitori, nonché la continua competitività del settore.
American Express Global Business Travel (NYSE: GBTG) ha anunciado una actualización sobre su propuesta de adquisición de CWT, un proveedor global de soluciones para viajes de negocios y reuniones. Se espera que la transacción se cierre en el primer trimestre de 2025, más tarde de lo inicialmente anticipado. Amex GBT está trabajando con las autoridades regulatorias, incluida la Autoridad de Competencia y Mercados del Reino Unido (CMA) y la División Antimonopolio del Departamento de Justicia de EE. UU., mientras revisan el trato. La CMA ha confirmado que continuará su revisión en una investigación de Fase 2.
Amex GBT sigue comprometida en demostrar cómo la adquisición generará sinergias, aumentará la capacidad de inversión e innovación, y ofrecerá más opciones a los clientes, manteniendo al mismo tiempo un entorno competitivo para los servicios de viajes de negocios. La compañía cree que un análisis integral de la Fase 2 destacará los beneficios para los clientes y proveedores, así como la competitividad continua de la industria.
아메리칸 익스프레스 글로벌 비즈니스 여행 (NYSE: GBTG)은 글로벌 비즈니스 여행 및 회의 솔루션 제공업체인 CWT의 인수 제안에 대한 업데이트를 발표했습니다. 이번 거래는 이제 2025년 1분기에 마감될 것으로 예상되며, 초기 예상보다 늦어졌습니다. Amex GBT는 거래를 검토하는 과정에서 영국 경쟁 시장청(CMA) 및 미국 법무부의 반독점 부서 등 규제 당국과 협력하고 있습니다. CMA는 2단계 조사를 통해 검토를 계속할 것이라고 확인했습니다.
Amex GBT는 인수가 어떻게 시너지를 창출하고, 투자 및 혁신 능력을 증가시키며, 고객에게 더 많은 선택을 제공하면서도 경쟁력 있는 비즈니스 여행 서비스 환경을 유지할 것인지를 보여줄 것에 전념하고 있습니다. 회사는 종합적인 2단계 분석이 고객과 공급자에게 이점을 강조하고 업계의 지속적인 경쟁력을 잘 드러낼 것이라고 믿고 있습니다.
American Express Global Business Travel (NYSE: GBTG) a annoncé une mise à jour concernant sa proposition d'acquisition de CWT, un fournisseur mondial de solutions de voyage d'affaires et de réunions. La transaction devrait désormais être finalisée au premier trimestre 2025, soit plus tard que prévu initialement. Amex GBT collabore avec les autorités de régulation, y compris la Competition and Markets Authority (CMA) du Royaume-Uni et la Division Antitrust du Département de la Justice des États-Unis, alors qu'elles examinent l'accord. La CMA a confirmé qu'elle poursuivra sa révision dans le cadre d'une enquête de Phase 2.
Amex GBT reste déterminée à démontrer comment l'acquisition créera des synergies, augmentera la capacité d'investissement et d'innovation, et offrira plus de choix aux clients tout en maintenant un environnement concurrentiel pour les services de voyage d'affaires. L'entreprise croit qu'une analyse complète de la Phase 2 mettra en évidence les avantages pour les clients et les fournisseurs, ainsi que la compétitivité continue de l'industrie.
American Express Global Business Travel (NYSE: GBTG) hat ein Update zu ihrem Vorschlag zur Übernahme von CWT, einem globalen Anbieter von Geschäftsreise- und Meetinglösungen, bekannt gegeben. Die Transaktion wird nun erwartet, im ersten Quartal 2025 abgeschlossen zu werden, später als ursprünglich angenommen. Amex GBT arbeitet mit den Regulierungsbehörden zusammen, einschließlich der Wettbewerbs- und Marktbehörde des Vereinigten Königreichs (CMA) und der Antitrust-Abteilung des US-Justizministeriums, während diese den Deal überprüfen. Die CMA hat bestätigt, dass sie ihre Überprüfung in einer Phase-2-Untersuchung fortsetzen wird.
Amex GBT bleibt bestrebt zu zeigen, wie die Übernahme Synergien schaffen, die Investitions- und Innovationskapazität erhöhen und den Kunden mehr Wahlmöglichkeiten bieten wird, während gleichzeitig ein wettbewerbsfähiges Umfeld für Geschäftsreise-Dienstleistungen erhalten bleibt. Das Unternehmen glaubt, dass eine umfassende Phase-2-Analyse die Vorteile für Kunden und Anbieter sowie die anhaltende Wettbewerbsfähigkeit der Branche hervorheben wird.
- Potential for synergies and increased capacity for investment and innovation
- Possible expansion of customer choices and more efficient supplier distribution
- Delayed acquisition closure to Q1 2025
- Extended regulatory review process with Phase 2 investigation by CMA
Amex GBT continues to work collaboratively with regulatory authorities including the
Amex GBT will continue to work with the regulatory authorities to demonstrate how the acquisition of CWT will create synergies and provide greater capacity for investment and innovation. It will also create more choice for customers and more efficient distribution for suppliers while maintaining a highly competitive environment for business travel services.
Eric J. Bock, Amex GBT’s Chief Legal Officer and Global Head of M&A, said: “We believe that a comprehensive Phase 2 analysis will demonstrate that the proposed transaction would result in many customer and supplier benefits, and that the business travel industry would remain highly competitive. In fact, as we’ve seen existing travel management companies grow and new tech-led companies enter the industry in recent years, we believe competition will continue to intensify.”
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 X, LinkedIn and Instagram.
Forward-Looking Statements
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Investors:
Jennifer Thorington
Vice President Investor Relations
investor@amexgbt.com
Media:
Martin Ferguson
Vice President Global Communications and Public Affairs
martin.ferguson@amexgbt.com
Source: Global Business Travel Group, Inc.
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