Long Lake Management completes $6.3 billion acquisition of Amex GBT

Long Lake Management has completed its acquisition of American Express Global Business Travel (Amex GBT) in an all-cash transaction valued at approximately $6.3 billion. Following the deal, which was finalized on September 29, Amex GBT has been delisted from the New York Stock Exchange and will now operate as a private company.

Shareholders received $9.50 per share, representing a 65.1% premium over the 30-day volume-weighted average price prior to the announcement. The acquisition was financed through equity from Long Lake’s existing investors and Koch Equity Development, alongside debt financing.

The strategic goal of the merger is to integrate Long Lake’s artificial intelligence capabilities into Amex GBT’s business travel, meeting, and event services. Long Lake intends to deploy its proprietary AI platform, Nexus, to enhance travel agent tools, customer support, and the management of travel disruptions. This marks the 35th and largest acquisition for Long Lake since its founding in 2023.