Amex GBT’s Acquisition of CWT Approved by UK’s Competition and Markets Authority

The UK’s Competition and Markets Authority (CMA) has given American Express Global Business Travel (Amex GBT) the go-ahead to acquire CWT, a business travel and meeting solutions provider. Amex GBT, a prominent software and services company in the travel, expense, and meetings/events sectors, is owned and operated by Global Business Travel Group, Inc.

Amex GBT CEO Paul Abbott expressed satisfaction with the CMA’s decision, stating that the acquisition of CWT will provide more value and options to their customers and suppliers and present more opportunities for their employees.

Eric J. Bock, Amex GBT’s Chief Legal Officer and Global Head of Mergers and Acquisitions, addressed a lawsuit initiated by the U.S. Department of Justice (DOJ) against the acquisition. He claimed that the lawsuit is fundamentally flawed. It takes a narrow and outdated perspective on competition, ignoring the rise of many significant competitors in the business travel sector.

Bock affirmed the advantages of the CWT merger and expressed confidence in the company’s legal standing. He indicated that the company is prepared to defend the merger’s benefits in court if necessary.

The CMA’s approval of the acquisition will fortify Amex GBT’s presence in the global market, enabling it to better serve its customers with more comprehensive travel and meeting solutions.

The UK’s Competition and Markets Authority’s approval of Amex GBT’s acquisition of CWT is seen as a positive move for the company and its customers. However, it remains to be seen how the pending lawsuit by the U.S. Department of Justice will impact the process.