Long Lake Acquires Amex GBT in $6.3 Billion Deal

On September 29, 2026, Long Lake Management completed its acquisition of American Express Global Business Travel (Amex GBT), taking the corporate travel company private in a deal valued at approximately $6.3 billion. The all-cash acquisition paid shareholders $9.50 per share, a 65.1% premium over the 30-day average stock price. Amex GBT’s stock ceased trading on the New York Stock Exchange, marking the end of its public trading era.

Amex GBT assured customers that their account teams, contracts, and service will continue uninterrupted while AI integration proceeds behind the scenes. CEO Paul Abbott emphasized the goal of making the service “faster, smarter, and more personalized,” though these enhancements are part of future plans rather than immediate changes.

For shareholders, the deal converted their public holdings into a fixed cash payment. The transaction was funded by Long Lake’s existing investors and Koch Equity Development, along with debt financing. The acquisition was approved by shareholders on August 3, 2026, following the original announcement on May 4, 2026.

Long Lake plans to integrate its AI engineering with Amex GBT’s operations, using its Nexus platform to map workflows and prepare data for AI applications. The integration aims to improve internal processes before introducing new traveler-facing tools. Staff and clients can expect ongoing service continuity while the technology work progresses internally.