Covington Represents Financial Advisor to American Express Global Business Travel in $6.3 Billion Deal

NEW YORK—Covington advised Rothschild & Co as financial advisor to the Special Committee of the American Express Global Business Travel Group in its sale to Long Lake for $6.3 billion.

Under the terms of the agreement, Amex GBT shareholders will receive $9.50 per share in cash, which represents a 60.2% premium to Amex GBT’s closing stock price on May 1, 2026, the last full trading day prior to the transaction announcement, and a premium of approximately 65.1% over the volume weighted average price of Amex GBT’s stock for the 30 days ending May 1, 2026.

Transaction negotiations were led by a Special Committee of the Amex GBT Board of Directors, composed entirely of independent and disinterested directors. Following the unanimous recommendation of the Special Committee, the Amex GBT Board of Directors approved the merger agreement with Long Lake.

The Covington team was led by J. D. Weinberg, Todd Mortensen, and Ben Sovocool.