The Gabelli ABC Fund on Global Business Travel Group Inc.
Thesis
Long Lake Management agreed to acquire Global Business Travel Group for $9.50 per share in cash. The transaction still required shareholder and regulatory approvals at the time of the commentary. The fund expects completion in the second half of 2026, making the deal spread the core source of return.
“It is expected to be completed in the second half of 2026.”
Key risks
- The announced acquisition may not be completed
- Regulatory approvals may delay closing