American Express Global Business Travel (GBT) has made a binding offer to acquire Egencia, Expedia Group’s corporate travel arm.

As part of the transaction, Expedia Group would become a shareholder in, and enter a long-term strategic commercial agreement with, GBT. 

Paul Abbott, GBT chief executive, said: “Our strategy is to provide customers with unparalleled choice by having the best solutions for each managed travel segment that we serve.

“In Egencia, we would welcome the industry’s leading digital business travel platform.

“Egencia would be strengthened by GBT’s complementary technology, enterprise capabilities and cutting-edge content. This would create new opportunities for both multinational and small and medium-sized enterprise clients, suppliers and the talented teams within both organisations.”   

Together, GBT and Egencia would offer comprehensive technology and customer solutions across every segment of business travel.

President of Expedia Business Services, Ariane Gorin, said: “We are thrilled by the potential transaction and what GBT and Egencia could achieve together, as Expedia Group seeks to simplify our business and be a leader in all of our endeavours.

“The combination of GBT’s leading solutions with Egencia’s great technology and team would help create the world’s best business travel offerings for customers and suppliers.”

The proposed deal is subject to consultation by Expedia Group and Egencia with their applicable employee representatives, as well as customary closing conditions including regulatory approvals.

No financial details were given for the transaction.

TipRanks

These 3 Cathie Wood Stocks Are Set to Rip Higher By 40% (Or More)

The markets lately are a mix of gains and volatility, and it’s tough, sometimes, for investors to make sense of it. In times like these, it makes sense to turn to the experts. Cathie Wood is one such expert, an investor whose stock choices have consistently outperformed the overall markets. A protégé of famed economist Arthur Laffer, market guru Wood has built her reputation on her clear view of the markets. Her firm is Ark Invest, whose Innovation ETF has over $52 billion in assets under management, making it one of the largest institutional investors on the scene. And better yet, Wood’s stock choices paid back during the ‘corona year;’ the ETF’s overall return in 2020 was an astounding 170%. With returns like that, it’s clear Cathie Wood knows what she’s talking about when she picks a stock. So, we’re taking a look at three of her stock choices, all from the ‘top 10’ of her firm’s holdings, by percentage weight within the portfolio. Using the TipRanks platform, we’ve found that, according to some Street analysts, each has at least 40% upside potential for the coming year. Let’s get the lowdown. Teladoc Health, Inc. (TDOC) The first stock on our list, Teladoc, was one of the ‘early adopter’ companies in the telehealth sector, making remote medical care available for non-emergency issues. Patients can use Teladoc to consult on ear-nose-throat matters, lab referrals, basic diagnoses and medical advice, and prescription refills for non-addictive substances. Teladoc bills its service as offering remote house calls by primary care doctors. Despite the obvious benefits of Teladoc’s service during the pandemic year, and steadily rising revenues, the company’s stock has underperformed the broader markets in the last 12 months. A look at the most recent quarterly report – for 1Q21 – will shed some light. The company reported $453.6 million at the top line, up an impressive 150% year-over-year. Earnings, however, told a different story. At $199.6 million, the net loss in Q1 was much deeper than the year-ago quarter’s $29.6 million loss. Per share, the loss came to $1.31, compared to just 40 cents one year earlier. The losses weighed on investors’ minds, but the company guidance was more worrisome. Management predicts that paid membership will be flat yoy in 2021. The stock fell 10% after the earnings release. Cathie Wood, however, started buying shares, taking advantage of the dip in price to increase her holdings of TDOC. Her firm bought up more than 716K shares, worth over $122 million at the time of purchase. Teladoc is Ark’s #2 holding, making up over 6% of the fund’s portfolio. While BTIG analyst David Larsen notes investors’ concerns, he believes the long-term outlook for the company remains positive. “The issue that may weigh on the stock, is 2021 membership guidance of 52 – 54M (+2% y/y) was left unchanged,” Larsen said. “Despite this headwind we still like the company and the