Carlson Wagonlit said it plans to buy fellow business-travel agency
for $16.50 a share, a 25% premium to the stock's last closing price.
The transaction is valued at about $510 million, including the assumption of debt. The combined company will operate in more than 150 countries and have around 22,000 employees.
Shares of Colorado-based Navigant jumped $2.85, or 21.6%, to $16.05 in heavy trading.