Long Lake Management to acquire Amex GBT in $6.3 billion all-cash deal

Long Lake Management has agreed to acquire American Express Global Business Travel (Amex GBT) in an all-cash transaction valued at about $6.3 billion, the companies said on May 2, 2026.

Under the agreement, Amex GBT shareholders would receive $9.50 per share in cash. The offer represents a 60.2% premium to Amex GBT’s May 1, 2026 closing price and a 65.1% premium to the 30-day volume-weighted average price through the same date, the companies said.

Long Lake said it plans to combine its applied artificial intelligence capabilities with Amex GBT’s corporate travel platform. The companies added that the American Express brand-licensing agreement is expected to remain in place.

Shareholder support and timing Amex GBT said major shareholders—including American Express, Expedia, Qatar Investment Authority, and BlackRock—collectively representing 69% of shares, have entered into voting agreements supporting the transaction.

The deal is expected to close in the second half of 2026, subject to shareholder approval and customary regulatory clearances. Asourceser closing, Amex GBT is expected to become privately held.

Financing The companies said the financing package includes equity from Long Lake’s investors, including Koch Equity Development LLC, and committed debt financing from JPMorgan, Bank of America, Citi, and MUFG.

They added that investors backing the transaction include General Catalyst and Alpha Wave.