Posted 3/25/2024, 11:00:00 AM
Amex GBT to Acquire Corporate Traveler CWT for $570M, Expects Deal to Boost Earnings
- Amex GBT to acquire CWT for $570 million in cash and stock deal expected to close in 2H 2024
- CWT projected to generate $850M revenue and $70-80M Adjusted EBITDA in 2024
- $155M in annual synergies identified within 3 years of closing
- Acquisition funded through stock and cash, maintains Amex GBT's leverage profile
- Expected to be accretive to EPS after first year post-close and deliver strong returns
