American Express Global Business Travel (Amex GBT) is being taken private after Long Lake Management agreed to acquire the company for around $6.3 billion, according to an announcement on March 4.
Amex GBT is managed by Global Business Travel Group (GBTG), whose stock jumped 57.5 percent, to $9.34, the same day as more than 81 million shares were traded.
“General Catalyst and Alpha Wave, among Long Lake’s world-class investors, have backed some of the most successful technology companies in the world. Together with Long Lake’s applied AI capabilities … Amex GBT is driving the transformation of business travel,” Paul Abbott, CEO of Amex GBT, said in a statement….