Long Lake Management to Acquire Global Business Travel Group for $6.3 Billion in Cash

American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (GBTG), entered a merger agreement on May 4, 2026, to be acquired by Long Lake Management in a deal valued at $6.3 billion.

Deal Structure:

Amex GBT shareholders will receive $9.50 per share in cash, representing a premium of 60.2% from the stock’s last close.

Company Profile:

American Express Global Business Travel is a B2B travel platform that provides software and services for managing corporate travel, expenses, and meetings and events. It connects businesses with travel suppliers and agencies through a technology-enabled marketplace.

Long Lake is an investment firm that acquires and scales services businesses using technology-driven operational improvements. It is backed by investors including General Catalyst, Alpha Wave Global, Elad Gil, D1 Capital Partners, and Thrive Capital.

Deal Details and Timeline:

The deal is expected to close in the second half of 2026.

American Express, Expedia Group, Qatar Investment Authority, and BlackRock, together holding approximately 69% of GBT’s shares, have entered into voting agreements supporting the deal.

The deal will be funded using a mix of equity from Long Lake’s existing investors and Koch Equity Development, along with committed debt financing from JPMorgan Chase, Bank of America, Citigroup, and MUFG.

Global Business Travel is being advised by Rothschild on financial matters and by Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom as legal counsel. Long Lake is receiving financial advice from Citigroup, JPMorgan Chase, and BofA Securities, with legal counsel provided by Latham & Watkins and Gibson, Dunn & Crutcher.

Long Lake is paying 1.6 times sales for Global Business Travel.

Deal Metrics:

For more comprehensive insights about this merger and acquisition transaction, please visit the detailed Deal Metrics page at:

Deal Metrics for the acquisition of Global Business Travel Group, Inc. (GBTG) by Long Lake Management

The Deal Metrics page provides a wealth of information, including:

• A history chart detailing the merger progression from announcement through completion or failure.
• Details of events as the merger progresses, such as the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News updates and SEC filings.
• A history of deal updates.
• And much more detailed information.

Disclaimer: It is advised to conduct thorough due diligence prior to buying or selling any securities mentioned in this article. We cannot guarantee the completeness or accuracy of the content or data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article