American Express Global Business Travel to acquire CWT for $540m.

American Express Global Business Travel, a B2B software and services company for travel and expense, agreed to acquire CWT, a global business travel and meetings solutions provider, for $540m. “Bringing CWT onto the proven Amex GBT software and services model will create more choice for customers, more opportunities for people and more value for shareholders,” Paul Abbott, American Express Global Business Travel CEO. On January 10, 2025, Justice Department sues to block Global Business Travel Group’s acquisition of CWT. On March 24, 2025, Amex GBT announced an amended merger agreement for CWT acquisition, including (1) A revised CWT transaction value of approximately $540m (from $570m originally agreed); (2) A revised fixed stock price of $7.50 per share (from $6.00 per share initially agreed); (3) An extension of the Drop Dead Date to December 31, 2025