M&A
confidence high
sentiment neutral
materiality 0.75
Amex GBT revises CWT deal to ~$540M, issues 50M shares at $7.50, extends deadline to Dec 31, 2025
Global Business Travel Group, Inc.
- Transaction value reduced to ~$540M from $570M on cash-free, debt-free basis; fixed stock price raised to $7.50/share from $6.00.
- Amex GBT to issue ~50M shares (down from ~72M) and pay $70M in cash to CWT equityholders at close.
- Drop Dead Date extended to December 31, 2025 to allow time for DOJ antitrust lawsuit seeking to block deal.
- Amended agreement maintains expected 7.6x pre-synergy and 2.5x post-synergy Adjusted EBITDA multiples from original March 2024 deal.
- Closing remains subject to regulatory approvals and other customary conditions.