---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-026717"
form_type: "8-K"
ticker: "GBTG"
cik: "0001820872"
company_name: "Global Business Travel Group, Inc."
filed_at: "2025-03-21T23:59:59+00:00"
generated_at: "2026-05-24T09:04:14.568806+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Amex GBT revises CWT deal to ~$540M, issues 50M shares at $7.50, extends deadline to Dec 31, 2025

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-25-026717
- form_type: 8-K
- ticker: GBTG
- cik: 0001820872
- company_name: Global Business Travel Group, Inc.
- filed_at: 2025-03-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820872/000110465925026717/0001104659-25-026717-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820872/000110465925026717/tm259963d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-026717
- JSON: https://secwatch.observer/filing/0001104659-25-026717.json
- Plain text: https://secwatch.observer/filing/0001104659-25-026717.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.