The UK’s Competition and Markets Authority (CMA) has extended its deadline for ruling on American Express Global Business Travel’s (Amex GBT) proposed $570 million acquisition of rival travel management company CWT by six weeks, pushing the final decision from 26 January to 9 March.
The delay follows new submissions from Amex GBT, including survey data that the regulator says was not provided until three weeks after its interim findings were published.
The CMA’s latest announcement comes shortly after the US Department of Justice filed its own lawsuit seeking to block the transaction, echoing concerns in the UK that the merger may result in higher prices, reduced innovation and fewer choices for corporate clients. Amex GBT has criticised both the CMA’s process and findings, insisting that its 1,500-customer survey, which purports to disprove the watchdog’s worries about reduced competition, is “more comprehensive and robust” than the CMA’s evidence base.
In a statement on Thursday, the CMA explained that it needed additional time to review Amex GBT’s late disclosure and examine the survey’s methodology. The watchdog has also reiterated its focus on clarifying the product market under investigation, issuing a paper to Amex GBT and CWT in case they wish to make further representations before the final report is published.