Amex GBT Chairman Bid for His Own Company — But Didn’t Revise the Offer

There are two very interesting things about the Amex GBT preliminary proxy statement tied to its acquisition that came out last week: The first is that the company’s chairman, Certares founder Greg O’Hara, seemingly tried to buy Amex GBT but didn’t revise his bid, and the second is that fear of AI disruption played a major role in discouraging potential buyers.

Even an Amex GBT special committee cited AI disruption as a reason for accepting the $6.3 billion take-private deal by Long Lake Management.

The proxy statement, filed Wednesday with the Securities and Exchange Commission, reveals for the first time the full scope of the sale process that led to the largest corporate travel deal in years.

The document shows that the company’s financial advisor, Rothschild & Co, contacted 64 potential buyers beginning in December 2025. Forty-six declined without signing a confidentiality agreement. Eighteen signed NDAs and received due diligence materials. Fi