{"id":814241,"date":"2025-02-18T09:57:42","date_gmt":"2025-02-18T14:57:42","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt\/"},"modified":"2025-02-18T09:57:42","modified_gmt":"2025-02-18T14:57:42","slug":"american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt\/","title":{"rendered":"American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nAmerican Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE: GBTG) (\u201cAmex GBT\u201d or the \u201cCompany\u201d), a leading software and services company for travel, expense, and meetings &amp; events, today announced that the UK\u2019s Competition and Markets Authority (the &#8220;CMA&#8221;) has provisionally concluded that it has not identified any competition concerns with GBT\u2019s proposed acquisition of CWT, a global business travel and solutions provider. The CMA\u2019s final decision is required to be made by March 9, 2025.\n<\/p>\n<p>\nThe Company continues to defend itself against a lawsuit filed in January 2025 by the Antitrust Division of the U.S. Department of Justice (the \u201cDOJ\u201d), seeking an injunction to prevent the proposed transaction.\n<\/p>\n<p>\nEric J. Bock, GBT\u2019s Chief Legal Officer and Global Head of M&amp;A stated: \u201cThe updated provisional conclusions by the CMA is an important milestone toward the consummation of the transaction. The CMA\u2019s revised findings reinforce the Company\u2019s belief that the DOJ\u2019s lawsuit is fundamentally flawed, taking a narrow and outdated view of competition, and disregarding the emergence of numerous significant competitors in business travel.\u201d\n<\/p>\n<p>\nPaul Abbott, Amex GBT\u2019s CEO said: \u201cIf consummated, this transaction will accelerate investment and innovation in business travel, creating more choice and value for customers and suppliers, and more opportunities for CWT employees.\u201d\n<\/p>\n<p>\nThe Company previously announced on March 25, 2024, that it agreed to acquire CWT, subject to the satisfaction of customary closing conditions, including the receipt of certain regulatory approvals.\n<\/p>\n<p><b>About Amex GBT<\/b><\/p>\n<p>\nAmex GBT is a leading software and services company for travel, expense, and meetings &amp; events. We have built the most valuable marketplace in travel with the most comprehensive and competitive content. A choice of solutions brought to you through a strong combination of technology and people, delivering the best experiences, proven at scale. With travel professionals and business partners in more than 140 countries, our solutions deliver savings, flexibility, and service from a brand you can trust \u2013 Amex GBT.\n<\/p>\n<p>\nVisit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.amexglobalbusinesstravel.com%2F&amp;esheet=54208784&amp;newsitemid=20250218376815&amp;lan=en-US&amp;anchor=amexglobalbusinesstravel.com&amp;index=1&amp;md5=7e931dd1de77c42b062ea8a7bc6a9f60\">amexglobalbusinesstravel.com<\/a> for more information about Amex GBT. Follow @amexgbt on <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Famexgbt%23_blank&amp;esheet=54208784&amp;newsitemid=20250218376815&amp;lan=en-US&amp;anchor=Twitter&amp;index=2&amp;md5=aee6e0408d98b6fb0a59a0936d14e03e\">Twitter<\/a>, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Famerican-express-global-business-travel%2F%23_blank&amp;esheet=54208784&amp;newsitemid=20250218376815&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=3&amp;md5=1111d0e14d8221fd621f7d6c3ba5cf5b\">LinkedIn<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.instagram.com%2Famexgbt%2F%3Fhl%3Den&amp;esheet=54208784&amp;newsitemid=20250218376815&amp;lan=en-US&amp;anchor=Instagram&amp;index=4&amp;md5=c7fc1f6b84a3b78df776c574797e4281\">Instagram<\/a>.\n<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis communication contains statements that are forward-looking and as such are not historical facts. This includes, without limitation, statements regarding our current expectations or forecasts of future events. These statements constitute projections, forecasts and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;continue,&#8221; &#8220;could,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;may,&#8221; &#8220;might,&#8221; &#8220;plan,&#8221; &#8220;possible,&#8221; &#8220;potential,&#8221; &#8220;predict,&#8221; &#8220;project,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; &#8220;would&#8221; and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.\n<\/p>\n<p>\nThe forward-looking statements contained in this communication are based on our current expectations and beliefs concerning future developments and their potential effects on us. There can be no assurance that future developments affecting us, including as a result of the transaction, will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following risks, uncertainties and other factors: (1) changes to projected financial information or our ability to achieve our anticipated growth rate and execute on industry opportunities; (2) our ability to maintain our existing relationships with customers and suppliers and to compete with existing and new competitors; (3) various conflicts of interest that could arise among us, affiliates and investors; (4) our success in retaining or recruiting, or changes required in, our officers, key employees or directors; (5) factors relating to our business, operations and financial performance, including market conditions and global and economic factors beyond our control; (6) the impact of geopolitical conflicts, including the war in Ukraine and the conflicts in the Middle East, as well as related changes in base interest rates, inflation and significant market volatility on our business, the travel industry, travel trends and the global economy generally; (7) the sufficiency of our cash, cash equivalents and investments to meet our liquidity needs; (8) the effect of a prolonged or substantial decrease in global travel on the global travel industry; (9) political, social and macroeconomic conditions (including the widespread adoption of teleconference and virtual meeting technologies which could reduce the number of in-person business meetings and demand for travel and our services); (10) the effect of legal, tax and regulatory changes; (11) the decisions of market data providers, indices and individual investors; (12) the outcome of any legal proceedings that may be instituted against Amex GBT or CWT in connection with the transaction; (13) the inability to complete the transaction; (14) delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals or complete regulatory reviews required to complete the transaction; (15) the risk that the transaction disrupts current plans and operations as a result of the announcement and consummation of the transaction; (16) the inability to recognize the anticipated benefits of the transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain key employees; (17) costs related to the transaction; (18) risks related to the business of CWT or unexpected liabilities that arise in connection with the transaction or the integration with CWT; (19) the risk that the assumptions, estimates and estimated adjustments described in this communication may prove to be inaccurate; and (20) other risks and uncertainties described in the Company&#8217;s Form 10-K, filed with the SEC on March 13, 2024, and in the Company&#8217;s other SEC filings. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250218376815r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250218376815\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250218376815\/en\/<\/a><\/span><\/p>\n<p><span class=\"bwuline\">Media<\/span>:<br \/>\n<br \/>Megan Kat<br \/>\n<br \/>Senior Director Global Communications and Public Affairs<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:megan.kat@amexgbt.com\">megan.kat@amexgbt.com<\/a><\/p>\n<p><span class=\"bwuline\">Investors<\/span>:<br \/>\n<br \/>George Anderson-Brown<br \/>\n<br \/>Vice President of Finance<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investor@amexgbt.com\">investor@amexgbt.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Technology Other Travel Transportation Lodging Destinations Travel Finance Banking Accounting Professional Services Vacation Software Cruise Data Management<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250218376815\/en\/1773826\/3\/Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT NEW YORK&#8211;(BUSINESS WIRE)&#8211; American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE: GBTG) (\u201cAmex GBT\u201d or the \u201cCompany\u201d), a leading software and services company for travel, expense, and meetings &amp; events, today announced that the UK\u2019s Competition and Markets Authority (the &#8220;CMA&#8221;) has provisionally concluded that it has not identified any competition concerns with GBT\u2019s proposed acquisition of CWT, a global business travel and solutions provider. The CMA\u2019s final decision is required to be made by March 9, 2025. The Company continues to defend itself against a lawsuit filed in January 2025 by the Antitrust Division of the U.S. Department &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-814241","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT NEW YORK&#8211;(BUSINESS WIRE)&#8211; American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE: GBTG) (\u201cAmex GBT\u201d or the \u201cCompany\u201d), a leading software and services company for travel, expense, and meetings &amp; events, today announced that the UK\u2019s Competition and Markets Authority (the &#8220;CMA&#8221;) has provisionally concluded that it has not identified any competition concerns with GBT\u2019s proposed acquisition of CWT, a global business travel and solutions provider. The CMA\u2019s final decision is required to be made by March 9, 2025. The Company continues to defend itself against a lawsuit filed in January 2025 by the Antitrust Division of the U.S. Department &hellip; Continue reading &quot;American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-18T14:57:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250218376815r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT\",\"datePublished\":\"2025-02-18T14:57:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt\\\/\"},\"wordCount\":1090,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20250218376815r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/american-express-global-business-travel-announces-provisional-uk-antitrust-clearance-of-acquisition-of-cwt\\\/\",\"name\":\"American Express Global Business Travel Announces Provisional UK Antitrust Clearance of Acquisition of CWT - 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(NYSE: GBTG) (\u201cAmex GBT\u201d or the \u201cCompany\u201d), a leading software and services company for travel, expense, and meetings &amp; events, today announced that the UK\u2019s Competition and Markets Authority (the &#8220;CMA&#8221;) has provisionally concluded that it has not identified any competition concerns with GBT\u2019s proposed acquisition of CWT, a global business travel and solutions provider. The CMA\u2019s final decision is required to be made by March 9, 2025. 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