Amex Global Business Travel to Acquire CWT

American Express Global Business Travel (Amex GBT) and CWT have announced a merger that is expected to be one of the largest in recent history. The deal was announced on Monday, with both companies’ boards of directors approving it. If approved by shareholders and regulatory authorities, the deal is expected to close in the second half of 2024.

CWT CEO Patrick Andersen expressed confidence in the value creation of the combined company, stating that joining forces with Amex GBT will help accelerate their vision of a tech-enabled future for business travel. Andersen highlighted the importance of combining people and technology to deliver an exceptional customer experience.

Amex GBT CEO Paul Abbott stated that bringing CWT onto their software and services model will provide more choices for customers, more opportunities for employees, and more value for shareholders. He expects CWT to generate about $850 million in revenue and $70 to $80 million in adjusted earnings before interest, taxes, depreciation, and amortization in 2024.

This report will be updated as more information becomes available.

By Aiden Johnson

As a content writer at newspoip.com, I have a passion for crafting engaging and informative articles that captivate readers. With a keen eye for detail and a knack for storytelling, I strive to deliver content that not only informs but also entertains. My goal is to create compelling narratives that resonate with our audience and keep them coming back for more. Whether I'm delving into the latest news topics or exploring in-depth features, I am dedicated to producing high-quality content that informs, inspires, and sparks curiosity.

Leave a Reply