Amex GBT Slams Timing of Justice Department Lawsuit to Block CWT Acquisition

American Express Global Business Travel blasted the timing of a U.S. Department of Justice lawsuit to block its proposed $570 million acquisition of CWT, litigation that came just 10 days before the January 20 change in presidential administrations.

“The Complaint did not need to be filed at this time, as the parties informed the DOJ that it was intended that the transaction be consummated in March 2025," Amex GBT said in a statement.

The implication was that the Biden administration didn't need to weigh in on the deal because it would be gone by the time the deal was ready to close. A Trump Justice Department would have had time to review it.

The Justice Department filed a lawsuit in New York on Friday against Global Business Travel Group, also known as Amex GBT, and CWT to block the deal that would have seen the marriage of the globe's number 1 and number 2 largest travel management companies, respectively.

The DOJ alleged that the merger would lead to higher prices for large customers, provide them with reduced choices, and stifle innovation.

"This acquisition is the latest in a series of acquisitions by Amex GBT that will further consolidate an already consolidate