Almost 12 months ago, American Express Global Business Travel revealed plans to buy rival agency CWT, in a deal worth $570 million.
It wasn’t a surprise to many, considering Amex GBT’s acquisition track record in recent years.
But authorities on both sides of the Atlantic had other ideas. The United Kingdom’s Competition and Markets Authority (CMA) moved to block it in November 2024, with the United States Justice Department (DOJ) following suit in January 2025.
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The arguments centered on how a new, bigger entity would stifle competition and could lead to reduced choice and quality, as well…
