{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-086098","form_type":"8-K","ticker":"GBTG","cik":"0001820872","company_name":"Global Business Travel Group, Inc.","filed_at":"2025-09-02T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.134441+00:00","generated_at":"2026-05-17T08:56:47.481264+00:00","sec_items":["1.01","2.01","3.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Amex GBT completes acquisition of CWT for ~$540M; $155M annual synergies expected","bullets":["Issued 50.4M shares of Common Stock as consideration; valued at ~$540M on cash-free, debt-free basis.","Company expects ~$155M in annual run-rate synergies from the acquisition within 3 years.","Holdback of 400,000 shares and $13.66M increase in Debt-Like Items, reducing purchase price.","CWT customers gain access to Amex GBT's suite including Neo, Egencia, and Select.","Updated FY2025 guidance including CWT impact to be provided on next earnings call in November."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-086098","json":"https://secwatch.observer/filing/0001104659-25-086098.json","markdown":"https://secwatch.observer/filing/0001104659-25-086098.md","text":"https://secwatch.observer/filing/0001104659-25-086098.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1820872/000110465925086098/0001104659-25-086098-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1820872/000110465925086098/tm2524670d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T08:56:47.481264+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"33a375fae939d7652fb222b7055020cb98c593c4","claim":"Global Business Travel Group, Inc. completed an acquisition involving CWT Holdings, LLC (closed 2025-09-02).","evidence_excerpt":"On September 2, 2025, the Company and the Seller completed the previously announced acquisition of CWT in accordance with the terms of the Merger Agreement.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1820872/000110465925086098/0001104659-25-086098-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"CWT Holdings, LLC"},{"label":"Closing","value":"2025-09-02"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}