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CMA opens inquiry into American Express's acquisition of CWT
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Jun 5, 2024
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Jun 5, 2024

CMA opens inquiry into American Express's acquisition of CWT

Regulation/policy

  • The Competition & Markets Authority (CMA), UK has begun inspecting the takeover of CWT by American Express Global Business Travel (Amex GBT), as per the regulations of the Enterprise Act of 2002. This Act applies when a company being acquired in the UK has a turnover exceeding EUR 70 million (~USD 76 million).

  • Amex GBT confirmed its voluntary notification of the transaction to the CMA for antitrust approval. The CMA has invited comments from interested parties by June 18, to examine potential reductions in market competition due to the acquisition. The closing date for initial decisions is July 30.

  • Amex GBT announced the purchase of CWT in late March for USD 570 million, with the deal likely to be finalized in the latter half of 2024. The CEO of Amex GBT conveyed that this acquisition was part of its mergers and acquisitions strategy.

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