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Amex GBT’s CWT Acquisition Advances as UK Regulator Finds No Issues

By  |  February 18, 2025

American Express Global Business Travel (Amex GBT) has reached a milestone in its proposed acquisition of CWT, as the UK’s Competition and Markets Authority (CMA) has provisionally determined that the transaction does not pose competition concerns. According to a statement from Amex GBT, the CMA’s provisional conclusion marks a key step toward finalizing the deal. However, the regulatory body’s final decision is expected by March 9, 2025.

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    The proposed acquisition, first announced on March 25, 2024, remains subject to customary closing conditions, including regulatory approvals. While the CMA’s findings suggest a smoother path in the UK, Amex GBT continues to face legal challenges in the United States. Per a statement from the company, the Antitrust Division of the U.S. Department of Justice (DOJ) filed a lawsuit in January 2025, seeking an injunction to block the deal on antitrust grounds.

    Eric J. Bock, Amex GBT’s Chief Legal Officer and Global Head of M&A, emphasized the importance of the CMA’s latest conclusions. “The updated provisional conclusions by the CMA is an important milestone toward the consummation of the transaction. The CMA’s revised findings reinforce the Company’s belief that the DOJ’s lawsuit is fundamentally flawed, taking a narrow and outdated view of competition, and disregarding the emergence of numerous significant competitors in business travel,” Bock stated.

    Read more: Amex GBT Pushes Back Against DOJ Lawsuit Over CWT Acquisition

    Amex GBT’s CEO, Paul Abbott, also highlighted the potential benefits of the acquisition. “If 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,” he said.

    Despite the legal challenges in the U.S., the company remains committed to defending the transaction. Per Amex GBT’s statement, the company believes that the DOJ’s position does not accurately reflect the current competitive landscape of the business travel sector.

    Source: Business Wire