Global Business Travel Group (GBTG 0.64%) stock is soaring in Monday’s trading. The company’s share price was up 57.4% as of 2 p.m. ET.

Global Business Travel published its first-quarter results this morning, but the Q1 print isn’t the driving force behind the stock’s explosive gains today. Instead, the big valuation surge is being propelled by news that Long Lake Management is on track to buy the business at a substantial premium.

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The Q1 results were strong and support the valuation rally

Global Business Travel recorded earnings per share of $0.10 on sales of $840 million in the first quarter. Revenue was up roughly 35.5% year over year, and the business’s smaller profit looks doesn’t seem to be a…