American Express and CWT Announce Merger to Revolutionize Travel Management Industry

American Express Global Business Travel to Acquire Carlson Wagonlit Travel

In a major shakeup in the travel management industry, American Express Global Business Travel (Amex GBT) has announced plans to acquire rival company CWT for $570 million in cash and stock. The deal, which is subject to approval from shareholders and regulatory authorities, is expected to expand customer choice, create more opportunities for employees, and increase value for shareholders.

The boards of directors for both companies have given their approval for the merger, with Amex GBT CEO Paul Abbott highlighting the benefits of combining CWT’s services with Amex GBT’s software model. He predicts that the merged company will generate approximately $850 million in revenue and $70-$80 million in adjusted earnings before interest, taxes, depreciation and amortization in 2024.

CWT CEO Patrick Andersen expressed confidence in the value creation potential of the merged entity, emphasizing the shared vision for a tech-enabled future in business travel. The combination of Amex GBT and CWT aims to leverage both human expertise and technology to provide exceptional customer experiences.

Further updates on the merger will be provided as necessary.

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