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Dec. 3, 2021, 7:13 a.m. EST

American Express' Global Business Travel business close to $5.3 billion merger with SPAC--WSJ

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By Tomi Kilgore

Shares of American Express Co. /zigman2/quotes/203805826/composite AXP -1.35% rose 0.8% in premarket trading Friday, after The Wall Street Journal reported that the credit card company's Global Business Travel business is close to a deal to be taken public by special-purpose acquisition company (SPAC) Apollo Strategic Growth Capital /zigman2/quotes/222659851/composite APSG -0.10% . Citing people familiar with the matter, the WSJ report said a merger with the SPAC, which is backed by Apollo Global Management Inc. /zigman2/quotes/203829595/composite APO -1.64% , would value AmEx's travel-booking services provider for corporate customers at about $5.3 billion. The WSJ report said the merger could be announced as soon as Friday. AmEx's stock has rallied 29.7% year to date through Thursday, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.30% has gained 13.2%.

/zigman2/quotes/203805826/composite
US : U.S.: NYSE
$ 158.74
-2.18 -1.35%
Volume: 3.78M
Jan. 21, 2022 4:02p
P/E Ratio
16.60
Dividend Yield
1.08%
Market Cap
$122.95 billion
Rev. per Employee
$643,124
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/zigman2/quotes/222659851/composite
US : U.S.: NYSE
$ 9.92
-0.01 -0.10%
Volume: 309,660
Jan. 21, 2022 4:10p
P/E Ratio
77.20
Dividend Yield
N/A
Market Cap
$1.01 billion
Rev. per Employee
N/A
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/zigman2/quotes/203829595/composite
US : U.S.: NYSE
$ 65.90
-1.10 -1.64%
Volume: 6.94M
Jan. 21, 2022 4:00p
P/E Ratio
7.71
Dividend Yield
3.03%
Market Cap
$49.89 billion
Rev. per Employee
$2.08M
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,265.37
-450.02 -1.30%
Volume: 523.88M
Jan. 21, 2022 4:52p
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