Amex GBT’s CWT “rescue mission” awaits first green light

It is nearly a
year since American Express Global Business Travel announced its $570 million
acquisition of CWT – a deal it hoped to conclude in the second half of 2024 –
and the two TMCs are still in limbo.

A major
hurdle could be removed later this week when the UK’s Competition and Markets Authority
decides whether to let the acquisition proceed. One thing that has become
clear during the CMA’s investigation is CWT’s declining position which has been
exacerbated by the CMA and US Department of Justice’s respective decisions to assess
the deal, thus delaying the TMCs’ consummation. What began as a
strategic acquisition has turned into a rescue mission.

The deal looked
to be in danger until an unexpected U-turn from the…