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May 4, 2026 12:01 PM

Global Business Travel Shares Surge As Buyout News Follows Strong Earnings Beat

American Express Global Business Travel (NYSE:GBTG), a travel services firm, agreed to be acquired by Long Lake Management in an all-cash deal valued at approximately $6.3 billion, after reporting stronger-than-expected Q1 results.

Premium Offer And Shareholder Backing

Shareholders will receive $9.50 per share, representing a 60.2% premium to the May 1 close.

The offer also reflects a 65.1% premium to the company's 30-day volume-weighted average price. The board approved the deal unanimously, with major shareholders representing 69% of shares committing support.

Deal Structure And Financing

The deal is expected to close in the second half of 2026, subject to shareholder and regulatory approvals. Following completion, the company will become privately held.

Long Lake will fund the acquisition with equity and debt from JPMorgan, Bank of America, Citi, and MUFG, with no financing conditions.

Earnings Performance And Outlook

The company reported Q1 2026 EPS of 10 cents, above the 7 cents estimate, ...