Long Lake completes $6.3 billion Amex GBT buyout and shares cease trading

Long Lake completed its all-cash acquisition of American Express Global Business Travel ($GBTG) in a transaction valuing the company at approximately $6.3 billion. Shareholders received $9.50 per share under the merger agreement. Amex GBT said its common stock had ceased trading and would be delisted from the New York Stock Exchange as it becomes a privately held business.

The closing converts an earlier agreed deal into a completed change of ownership and ends public-market participation in the acquired common shares. Long Lake plans to apply its AI engineering capabilities to travel-service tools and support for travel counselors. Financing combines investor equity, including Koch Equity Development, with debt financing. The announcement provides no quantified operational savings or earnings uplift from those technology plans; they remain an integration objective rather than a demonstrated financial benefit.

Sources:

• Amex GBT Business Wire completion release
• Timestamped issuer-release reproduction