The merger of Arapahoe County-based Navigant International Inc. with Carlson Wagonlit Travel was in the works for more than a year before it was announced last month, according to a preliminary proxy statement Navigant filed Wednesday.
Navigant is a corporate travel-management company based in Arapahoe County. Carlson Wagonlit, a business travel-management company, is a subsidiary of Minneapolis-based Carlson Cos.
Carlson Wagonlit chief executive Herbert Joly called Navigant CEO Ed Adams in January 2005 and suggested a meeting.
They met Feb. 3, 2005, and Joly said he would be interested in discussing “a possible business combination.”
Navigant resolved ongoing accounting problems last year and filed its 2004 annual report and quarterly reports for the first two quarters of 2005. It also ended a joint venture with TQ3 Travel Solutions in January. Both moves helped clear the way for the merger.
The Navigant board approved the merger agreement April 26 and announced the deal the next day. It is expected to close by the end of the year.
The filing also revealed that Adams’ total cash severance benefit is about $1.8 million.
Staff writer Kelly Yamanouchi can be reached at 303-820-1488 or kyamanouchi@denverpost.com.
