---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-018699"
form_type: "8-K"
ticker: "GBTG"
cik: "0001820872"
company_name: "Global Business Travel Group, Inc."
filed_at: "2026-05-04T23:59:59+00:00"
generated_at: "2026-05-15T00:00:12.229214+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# GBTG to be acquired by Long Lake for $9.50 per share in cash

## Summary
- Acquisition price of $9.50 per share in cash; holders of ~69% of shares have agreed to vote in favor via voting agreements.
- Company must pay $200M termination fee under certain circumstances; Parent pays $270M termination fee if it breaches.
- Debt financing of $2.5B committed to fund the transaction, along with equity commitments from Long Lake and Koch Equity Development.
- Closing subject to stockholder approval, HSR and other regulatory clearances, and no Company Material Adverse Effect.
- Merger expected to close by November 2, 2026, extendable to February 2, 2027 for regulatory approvals.

## SEC filing metadata
- accession: 0001140361-26-018699
- form_type: 8-K
- ticker: GBTG
- cik: 0001820872
- company_name: Global Business Travel Group, Inc.
- filed_at: 2026-05-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1820872/000114036126018699/0001140361-26-018699-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1820872/000114036126018699/ef20072315_form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-018699
- JSON: https://secwatch.observer/filing/0001140361-26-018699.json
- Plain text: https://secwatch.observer/filing/0001140361-26-018699.txt

## Source-grounded claims
- claim_id: 75accc10be1da216f91f21ef84079ecb21b033c4
  claim: Global Business Travel Group, Inc. entered into "Merger Agreement" with Gaia Purchaser, Inc., Gaia Merger Sub, Inc. (effective 2026-05-02).
  evidence_excerpt: On May 2, 2026, Global Business Travel Group, Inc., a Delaware corporation (the " Company "), entered into an Agreement and Plan of Merger (the " Merger Agreement ") with Gaia Purchaser, Inc., a Delaware corporation (" Parent "), and Gaia Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent (" Merger Sub ")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1820872/000114036126018699/0001140361-26-018699-index.htm

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