Mergers & Acquisitions ·
Global Business Travel Group completes $6.3B merger with Long Lake subsidiary, delists from NYSE
GBTGGlobal Business Travel Group, Inc.
Global Business Travel Group, Inc. completed its merger with Gaia Purchaser, Inc., a subsidiary of Long Lake Management, on September 29, 2026. The all-cash transaction values the company at approximately $6.3 billion, with shareholders receiving $9.50 per share, representing a 65.1% premium to the 30-day VWAP. Concurrently, the Company entered into a new Credit Agreement providing a $1.5 billion senior secured first-lien term loan facility and a $250 million revolving credit facility, while repaying all outstanding loans under its previous Amended and Restated Credit Agreement. As a result of the merger, Class A common stock ceased trading on the NYSE, and the Company filed Form 25 to delist and deregister shares. The entire board of directors resigned effective immediately upon closing. Global Business Travel Group operates in the travel management industry, providing software and services for corporate travel, expense, and meetings.