Long Lake closed its all-cash acquisition of American Express Global Business Travel on 29 September, paying $9.50 per share in a deal valuing the company at about $6.3bn. Amex GBT's shares were removed from the New York Stock Exchange.
Why Long Lake is buying American Express Global Business Travel
Long Lake buys service businesses and applies artificial intelligence to their operations. Amex GBT chief executive Paul Abbott has said the new ownership should speed up AI tools for corporate customers and travel counsellors.
Deal terms and financing
Shareholders received $9.50 a share in cash, a 65.1% premium to the 30-day volume-weighted average price at signing. Funding combined equity from Long Lake's investors and Koch Equity Development with debt; American Express sold its roughly 30% stake.
Regulatory approvals and timing
Shareholders approved the deal on 3 August 2026 and all closing conditions were met by late September.
Market context
The transaction is one of the largest take-privates premised on AI-driven operational change, an emerging thesis among new holding-company buyers.
