Global Business Travel Group shares surged 57.5% to $9.34 following the announcement that Long Lake Management will acquire its software and services subsidiary, American Express GBT, for $6.3 billion. The deal values shares at $9.50 each, representing a 60.2% premium over the 1 May closing price. CEO Paul Abbott said the transaction validates the company's strategy and delivers substantial cash value to shareholders. Long Lake CEO Alex Taubman highlighted the acquisition reflects optimism about business travel's future, particularly the integration of AI and human agents to improve booking efficiency and travel management. The definitive agreement marks a significant validation of GBTG's business model and market position in the corporate travel sector.

American Express Global Business Travel is being taken private by Long Lake Management in a $6.3 billion all-cash deal at $9.50 per share. The price represents a 60% premium to Amex GBT's closing price on 1 May and a 65% premium to its 30-day volume-weighted average. Major shareholders including American Express, Expedia Group, Qatar Investment Authority and BlackRock, collectively holding 69% of outstanding shares, have agreed to support the transaction. The merger has been unanimously recommended by a special committee of independent directors and approved by the board. American Express will sell its approximately 30% equity stake as part of the deal, expecting proceeds of about $1.5 billion and a pre-tax gain of roughly $975 million. The transaction is expected to close in the second half of 2026.