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UK Authorities Reverse and Give Provisional Go Ahead to Amex GBT Purchase of CWT

Deal is worth $570 million >>

Written by:

Harvey Chipkin

Published on:

February 18, 2025
American Express Tower entrance
Image: Shutterstock

UK authorities have provisionally cleared the $570 million acquisition of CWT by American Express Global Business Travel (GBT). The Competition and Markets Authority (CMA) on Tuesday said it had provisionally concluded that the deal would not result in a “substantial lessening of competition.”

The ruling represented a change from November, when the agency had issued an interim report that provisionally found that the merger was “likely” to lessen competition substantially. The CMA said new evidence had since come to light that suggested CWT was in a weaker state than thought, and that there were “other suppliers” who would offer customers “an alternative to the merged business.”

The merger still faces a civil antitrust lawsuit filed by the U.S. Justice Department earlier this year, in the final days of the Biden administration, which alleged the merger would harm competition for US global and multinational businesses’ corporate travel management services. That lawsuit currently has a trial date of Sept. 8.

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