DOJ sues to block American Express’s GBT acquisition
CWT Holdings is headquartered in Minnetonka, Minnesota. The U.S. Department of Justice is filing a lawsuit to prevent Amex GBT from acquiring the company. ||Provided by LoopNetThe U.S. Department of Justice filed a civil antitrust lawsuit in mid-January to prevent Global Business Travel Group Inc. (Amex GBT), the world's largest business travel management company, from acquiring its rival and third-largest business travel management company CWT Holdings LLC. The world's leading business travel management company. The complaint, filed in the U.S. District Court for the Southern District of New York, alleges that the proposed $570 million deal — Amex GBT’s fifth acquisition of another travel management company since 2018 — would harm competing business travel management services businesses for U.S. global and multinational companies."U.S. businesses rely on travel management companies to connect employees, control travel costs, streamline travel booking and expense management, and ensure employees are available when they are available," said Acting Assistant Attorney General Doha Mekki of the Department…
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