American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT
NEW YORK, February 18, 2025–(BUSINESS WIRE)–American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE: GBTG) (“Amex GBT” or the “Company”), a leading software and services company for travel, expense, and meetings & events, today announced that the UK’s Competition and Markets Authority (the “CMA”) has provisionally concluded that it has not identified any competition concerns with GBT’s proposed acquisition of CWT, a global business travel and solutions provider. The CMA’s final decision is required to be made by March 9, 2025.
The Company continues to defend itself against a lawsuit filed in January 2025 by the Antitrust Division of the U.S. Department of Justice (the “DOJ”), seeking an injunction to prevent the proposed transaction.
Eric J. Bock, GBT’s Chief Legal Officer and Global Head of M&A stated: “The updated provisional conclusions by the CMA is an important milestone toward the consummation of the transaction. The CMA’s revised findings reinforce the Company’s belief that the DOJ’s lawsuit is fundamentally flawed, taking a narrow and outdated view of competition, and disregarding the emergence of numerous significant competitors in business travel.”
Paul Abbott, Amex GBT’s CEO said: “If consummated, this transaction will accelerate investment and innovation in business travel, creating more choice and value for customers and suppliers, and more opportunities for CWT employees.”
The Company previously announced on March 25, 2024, that it agreed to acquire CWT, subject to the satisfaction of customary closing conditions, including the receipt of certain regulatory approvals.
About Amex GBT
Amex GBT is a leading software and services company for travel, expense, and meetings & events. We have built the most valuable marketplace in travel with the most comprehensive and competitive content. A choice of solutions brought to you through a strong combination of technology and people, delivering the best experiences, proven at scale. With travel professionals and business partners in more than 140 countries, our solutions deliver savings, flexibility, and service from a brand you can trust – Amex GBT.
Visit amexglobalbusinesstravel.com for more information about Amex GBT. Follow @amexgbt on Twitter, LinkedIn and Instagram.
Forward-Looking Statements
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