Expedia Group Reports 14.3% Stake in GBTG and Enters Merger Support Agreement

Expedia Group, Inc. filed a Schedule 13D/A on May 5, 2026, reporting a 14.3% stake in Global Business Travel Group, Inc. (GBTG), totaling 74,849,607 shares of Class A Common Stock. This amendment follows a significant corporate event: on May 2, 2026, the Issuer entered into a Merger Agreement with Gaia Purchaser, Inc. and Gaia Merger Sub, Inc., under which GBTG will be acquired by Long Lake Management Holdings Inc. In conjunction with this agreement, Expedia HoldCo entered into a Voting and Support Agreement. Under this agreement, Expedia has committed to vote all its shares in favor of the merger and against any alternative acquisition proposals. The agreement also includes a lock-up provision preventing the transfer of shares until the agreement's termination, which is slated for the effective time of the merger or no later than early 2027. This filing highlights Expedia's support for the transition of GBTG into a wholly owned subsidiary of the Parent entity.