American Express Global Business Travel is being acquired in a $6.3 billion all-cash deal by Long Lake Management. The buyer will pay $9.50 per share, taking the corporate travel manager private. Shares jumped 58% in premarket trading to $9.34, reflecting the substantial premium being offered.

The purchase price represents roughly a 60% premium to Amex GBT's closing stock price on May 1, and approximately 65% premium to its 30-day volume-weighted average price. Long Lake secured voting agreements from stockholders holding about 69% of outstanding shares, ensuring a clear path to close the transaction.

Major holders including American Express, which holds roughly 30% equity, along with Expedia Group, Qatar Investment Authority, and BlackRock have committed to support the deal. American Express will sell its stake as part of the transaction.

The deal values the corporate travel management company at $6.3 billion, a significant premium that reflects strong private market appetite for the business despite recent volatility in travel sector equities.