Long Lake completes $6.3 billion acquisition of Amex GBT and changes CEO

On September 29, 2026, Global Business Travel Group (Amex GBT) announced that its acquisition by Long Lake Management in an all-cash transaction has been completed, valuing the company at approximately $6.3 billion. The transaction was announced on May 4, 2026, and was approved by a special shareholders meeting on August 3, 2026. Under the merger agreement, Amex GBT shareholders receive $9.50 in cash per share, a 65.1% premium over the 30-day volume-weighted average price on the date the merger agreement was signed. Following completion of the transaction, Amex GBT common stock ceased trading and was delisted from the New York Stock Exchange, becoming a private company. On September 30, it was reported that Long Lake stated it would focus on shifting the Amex GBT technology platform toward the era of agentic travel management and deploy its self-learning AI platform Nexus; Amex GBT stated that client account teams, contracts, and services would not be interrupted. On October 6, Amex GBT announced a leadership transition, with current President Drew Crawley immediately succeeding Paul Abbott as Chief Executive Officer, and Abbott transitioning to Long Lake operating partner, which the company described as a planned transition.