{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-24-014927","form_type":"8-K","ticker":"GBTG","cik":"0001820872","company_name":"Global Business Travel Group, Inc.","filed_at":"2024-03-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:25.729521+00:00","generated_at":"2026-06-04T08:37:27.216950+00:00","sec_items":["1.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"GBTG to acquire CWT in ~$570M enterprise value deal; to issue 72M shares and pay $70M cash","bullets":["Acquisition of CWT implies equity value of ~$500M; transaction structured as two-step merger.","Consideration: ~72M shares of GBTG Class A common at $6.00/share plus ~$70M cash from balance sheet.","Closing subject to HSR Act, CFIUS clearance, and other foreign investment approvals; drop-dead dates up to 18 months.","Reverse termination fee of $32M-$35M payable by GBTG if deal fails due to regulatory conditions.","Lock-up: Members cannot transfer shares for 90 days post-close, then 50% limit until day 270."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-24-014927","json":"https://secwatch.observer/filing/0001140361-24-014927.json","markdown":"https://secwatch.observer/filing/0001140361-24-014927.md","text":"https://secwatch.observer/filing/0001140361-24-014927.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1820872/000114036124014927/0001140361-24-014927-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1820872/000114036124014927/ef20024970_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T08:37:27.216950+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":"e81137bb180e2eab9bd8d97e50d009fc850e95d6","claim":"Global Business Travel Group, Inc. entered into Agreement and Plan of Merger with CWT Holdings, LLC, Cape Merger Sub I LLC, Cape Merger Sub II LLC, Redwood Drawdown Partners III, LLC valued at approximately $570 million on a cash-free and debt-free basis (effective 2024-03-24).","evidence_excerpt":"On March 24, 2024, Global Business Travel Group, Inc. a Delaware corporation (the “ Company ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with CWT Holdings, LLC","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1820872/000114036124014927/0001140361-24-014927-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"CWT Holdings, LLC, Cape Merger Sub I LLC, Cape Merger Sub II LLC, Redwood Drawdown Partners III, LLC"},{"label":"Value","value":"approximately $570 million on a cash-free and debt-free basis"},{"label":"Effective","value":"2024-03-24"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}