The U.S. Department of Justice has just paved the way for American Express Global Business Travel to purchase CWT Holdings for some $540 million.
The department, under President Biden, sued to block the merger, saying the deal would eliminate competition. Now, under President Trump, it seems anti-competitive mergers are no longer a priority. The case has been dismissed this week.
According to Reuters, American Express Global Business Travel and CWT Holdings are the first and third largest providers of business travel management services.
Travel Weekly, our sister publication, reports the case being dismissed from the U.S. District Court in the Southern District of New York on July 29.
“We recognize the regulatory approval process has created uncertainty for CWT customers and employees,” said Amex GBT CEO Paul Abbott in an official statement. “We’re excited to close the transaction and welcome them to Amex GBT. Together, we will offer customers unrivaled choice, value and experience.”
Amex GBT expects the merger to be finalized in the third quarter.
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