American Express Global Business Travel confirms $5.3 billion merger deal with SPAC Apollo Strategic Growth

American Express Global Business Travel confirms $5.3 billion merger deal with SPAC Apollo Strategic Growth
·1 min read

Shares of American Express Co. rose 0.8% in premarket trading Friday, after American Express Global Business Travel (GBT), which is 50% owned by AmEx, confirmed that it will go public through a merger with special-purpose acquisition company (SPAC) Apollo Strategic Growth Capital in a deal that values the combined company at $5.3 billion. The Wall Street Journal had previously reported that a deal was near. The merger will provide $1.2 billion in gross proceeds, including $335 million in private

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