The American Express brand will continue under an existing licensing agreement. Photo Credit: Amex GBT
In one of the most significant deals to hit the corporate travel sector in recent years, Long Lake Management has agreed to acquire American Express Global Business Travel in an all-cash transaction valued at approximately US$6.3 billion.
The offer of US$9.50 per share represents a 60.2% premium to the company’s closing price on 1 May 2026, underscoring strong investor backing for the deal.
Shareholders representing 69% of Amex GBT’s shares – including American Express, Expedia Group, Qatar Investment Authority and BlackRock – have already entered into agreements to support the transaction.
Upon completion, Amex GBT will be taken private and delisted, marking a major structural shift for the world’s largest corporate travel management company (TMC).
The American Express brand will continue under an existing licensing agreement.
The transaction is expected to close in the second half of 2026, subject to shareholder and regulatory approvals.
AI at the centre of next growth phase
The acquisition reflects a broader push to integrate advanced artificial intelligence (AI) into managed travel. Long Lake plans to combine its proprietary AI capabilities with Amex GBT’s global marketplace, technology and client base spanning more than 140 countries.
Paul Abbott, CEO of Amex GBT, said the deal validates the company’s strategy and positions it for continued innovation.
He noted that the agreement delivers immediate value to shareholders while positioning Amex GBT for further innovation in business travel.
Alex Taubman, co-founder and CEO of Long Lake, added that the combined platform will continue to invest in AI-driven solutions.
Strong backing, limited execution risk
The deal is supported by a mix of equity from Long Lake investors and Koch Equity Development, alongside committed debt financing from major banks including JPMorgan Chase, Bank of America, Citigroup and MUFG.
Notably, the transaction is not subject to a financing condition, increasing certainty of completion.
Long Lake is also expected to explore rollover arrangements with select existing shareholders, allowing them to retain stakes in the newly privatised entity.