Amex GBT-CWT had legitimate failing firm defense, fired US DOJ enforcer says
By Khushita Vasant ( August 18, 2025, 21:29 GMT | Insight) -- A challenge to Amex GBT’s merger with CWT Holdings was withdrawn by antitrust enforcers at the US Department of Justice because there was a “legitimate failing firm defense” in the $570 million deal and CWT Holdings was slowly spiraling towards bankruptcy, Roger Alford, a former principal deputy assistant attorney general at the DOJ said today. Alford acknowledged, however, that several cases under review by the DOJ’s Antitrust Division might be influenced by lobbyist campaigns to their favor.A challenge to Amex GBT’s merger with CWT Holdings was withdrawn by antitrust enforcers at the US Department of Justice because there was a “legitimate failing firm defense” in the transaction and CWT Holdings was slowly spiraling towards bankruptcy, a former top deputy at the agency said today....
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