Bulletin
Investor Alert

Market Pulse Archives

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

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

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    American Express Co. (AXP)
  • X
    Apollo Global Management Inc. (APO)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of American Express Co. /zigman2/quotes/203805826/composite AXP +0.20% 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 . 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 -2.20% , 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 -0.77% has gained 13.2%.

/zigman2/quotes/203805826/composite
US : U.S.: NYSE
$ 172.66
+0.35 +0.20%
Volume: 10.24M
Jan. 30, 2023 4:03p
P/E Ratio
17.48
Dividend Yield
1.20%
Market Cap
$128.76 billion
Rev. per Employee
$825,969
loading...
/zigman2/quotes/203829595/composite
US : U.S.: NYSE
$ 69.26
-1.56 -2.20%
Volume: 1.81M
Jan. 30, 2023 4:00p
P/E Ratio
N/A
Dividend Yield
2.31%
Market Cap
$40.53 billion
Rev. per Employee
$1.22M
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,717.09
-260.99 -0.77%
Volume: 0.00
Jan. 30, 2023 5:06p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.