Global Business Travel Group stockholders approved the merger agreement with Long Lake, under which the company would become a wholly owned subsidiary of Gaia Purchaser. The preliminary vote at a special virtual meeting showed approval of the merger proposal, with 466,895,035 shares represented out of 522,373,443 outstanding Class A shares, establishing a quorum. Stockholders also approved, on a non-binding advisory basis, merger-related compensation arrangements for named executive officers. A third proposal to adjourn the meeting was not presented, as sufficient votes had already been received. Final certified results are expected in a Form 8-K filing within four business days, and the meeting may have been the company's final stockholder meeting.
Global Business Travel Group IncStockholders approved the merger with Long Lake, moving the company toward becoming a wholly owned subsidiary.
Long Lake's merger agreement received stockholder approval, a key step toward acquiring Global Business Travel Group.