Long Lake Management agrees to acquire Amex GBT for $6.3 billion
Updated
Updated · Bloomberg · May 4
Long Lake Management agrees to acquire Amex GBT for $6.3 billion
12 articles · Updated · Bloomberg · May 4
The startup will pay $9.50 a share in cash for Global Business Travel Group, the business-travel platform spun out of American Express.
The price represents a 60% premium to Amex GBT's closing share price on Friday, according to a statement issued on Monday.
Earlier reports said Long Lake is backed by General Catalyst and Alpha Wave, and that Amex GBT's board and major shareholders including American Express and Expedia support the take-private deal.
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