1. American Express Company (NYSE:AXP)
Berkshire Hathaway’s Stake Value: $56,088,378,465
Forward P/E: 18.51
On May 4, BofA said American Express Company is selling its remaining stake in American Express Global Business Travel (GBTG) for about $1.5 billion. The firm said the move supports American Express’ strategy of exiting non-core assets and sharpening its focus on its core card and network business. In a research note, BofA added that the transaction is expected to support earnings per share growth while also giving the company more flexibility for share buybacks and reinvestment into higher-return opportunities. The firm maintained a Buy rating and a $387 price target on American Express and described the deal as a positive development.
Also on May 4, The Wall Street Journal reported that American Express Global Business Travel is being taken private by Long Lake Management in an all-cash deal valued at $9.50 per share. The transaction values the company at around $6.3 billion. Amex GBT said the merger is expected to close in the second half of 2026. The company added that the deal was unanimously recommended by a special committee of independent directors and approved by its board.
Separately, American Express confirmed that it will sell its roughly 30% equity stake in Global Business Travel Group as part of the transaction. Once the deal closes, American Express expects to receive proceeds of about $1.5 billion and record a pre-tax gain of nearly $975 million. The company also said that the gain was not included in its previously issued 2026 earnings guidance.
American Express Company (NYSE:AXP) is a global payments and premium lifestyle brand powered by technology. Its card-issuing, merchant-acquiring, and card network businesses provide products and services to consumers, small businesses, mid-sized companies, and large corporations worldwide.
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