by Mia Taylor
Last updated: 5:40 PM ET, Tue September 2, 2025
Nearly two years after the deal was initially revealed, American Express Global Business Travel has finally completed its $540 million acquisition of fellow travel management company CWT.
The massive merger had been delayed due to an investigation being conducted by the UK Competition and Markets Authority, which started in June 2024.
The UK government regulation agency gave the merger a green light in March of this year, but the deal faced still another hurdle: An antitrust lawsuit filed by the US Department of Justice, which had been due to go to trial in September before the case was dropped by the DOJ under the Trump Administration in July.
Under President Biden, the DOJ had sued to block the merger, saying
the deal would eliminate competition. American Express Global Business Travel and CWT
Holdings are the first and third largest providers of business travel
management services, according to a Reuters report.
At the time, Doha Mekki, head of the DOJ's
Antitrust Division, had said: "American businesses will face the consequences, seeing higher prices,
less innovation and fewer choices," if the merger were allowed to proceed.
Under President Trump, however, it
seems anti-competitive mergers are no longer a priority.
Meanwhile, during Amex GBT’s second quarter results presentation last
month, Amex GBT CEO Paul Abbott said he was unable to provide any
details on CWT’s financial performance until the deal closed. But Abbott
was "very confident" that Amex GBT could achieve the original estimate
of $155 million in synergies within three years following the
acquisition
Abbott also said in a statement that Amex GBT is ready for "the start of an exciting relationship with CWT.
"This acquisition will generate greater investment capacity for our software and services and is expected to create significant shareholder value through efficiency gains,” he said.
CWT’s customers will gain access to its platforms as a result of the merger, according to Amex GBT. That includes Neo and Egencia, as well as Select, which integrates with technology suppliers.
In 2023, American Express Global Business Travel Group reported $28
billion in travel transactions. The company has acquired many other
competitors over the past few years.
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