Long Lake completes $6.3B acquisition of Amex GBT; GBTG delisted from NYSE

Global Business Travel Group, Inc.

Amex GBT stockholders received $9.50 per share in cash, a 65.1% premium to the 30-day VWAP from the May 2, 2026 merger agreement.
The all-cash transaction values Amex GBT at approximately $6.3 billion; it was announced May 4, 2026, and approved by stockholders on August 3, 2026.
The merger closed September 29, 2026, via merger of Gaia Merger Sub into Global Business Travel Group, which became a wholly owned subsidiary of Gaia Purchaser.
Concurrently, Parent entered a $1.5B senior secured first-lien term loan and a $250M revolving credit facility with JPMorgan Chase as administrative agent.
GBTG requested NYSE delisting and deregistration; all board members resigned at the effective time. Financing included equity from Long Lake investors and Koch Equity Development.

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