American Express Global Business Travel, operated by Global Business Travel Group, announced the repurchase of 8M shares of its Class A common stock in a privately negotiated transaction at a purchase price of Around $6.85 per share in Q3
Portfolio Pulse from Benzinga Newsdesk
American Express Global Business Travel, operated by Global Business Travel Group, repurchased 8 million shares of its Class A common stock at approximately $6.85 per share in Q3.
September 04, 2024 | 11:46 am
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Global Business Travel Group repurchased 8 million shares of its Class A common stock at $6.85 per share, indicating a strategic move to consolidate ownership and potentially increase shareholder value.
The repurchase of shares often indicates that the company believes its stock is undervalued, which can lead to a positive short-term impact on the stock price as it reduces the number of shares outstanding, potentially increasing earnings per share.
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