US DOJ Clears Way for Amex GBT to Acquire CWT

On July 29, 2025, the US Department of Justice (DOJ) dismissed its antitrust lawsuit, which aimed to block American Express Global Business Travel (Amex GBT) from acquiring CWT Holdings.

Amex GBT announced plans to acquire CWT in March 2024. The deal was initially valued at $570 million and later revised to $540 million. The acquisition aims to expand Amex GBT’s global presence and enhance its service portfolio by combining its resources with CWT’s strong foothold in Europe, SME customer base, and expertise in meetings and events.

The DOJ had filed its complaint in January 2025, arguing that the deal would weaken competition in corporate travel services, potentially leading to higher costs and slowed innovation for US businesses.

In response, both companies stated the merger would create a more scalable platform with improved global reach, which would benefit all stakeholders.

With the case now dismissed, the acquisition is expected to close in Q3 2025.

The deal will include approximately 50 million shares (at $7.50 per share) with the remaining amount paid in cash. CWT shareholders will hold approximately 10 percent ownership in the combined entity.

Recently, AMEX GBT launched a new Guest T&E platform, designed to manage travel and expenses for non-employee travelers.

Cover photo by Wan San Yip on Unsplash