Car rental firm Avis drops bid for Dollar Thrifty

Wed, 09/14/2011 - 12:30 EDT - France24.com - Business

RDF10

Car rental company Avis Budget Group said on Wednesday that it was dropping its bid to acquire Dollar Thrifty, ending a bidding war with Hertz over their smaller rival.Avis abandoned the takeover attempt "in light of current market conditions", it said in a filing with the US Securities and Exchange Commission.Hertz, the world's largest car rental company, said in May that it was ready to buy Dollar Thrifty in a $2.2 billion deal, topping a previous offer from Avis of $1.6 billion.

Original article
Login or register to post comments

Avis to buy Zipcar for US$500-million
Car rental company Avis Budget Group Inc. will buy Zipcar Inc for about US$500-million, surpassing larger rivals Hertz Global Holdings Inc. and Enterprise Holdings Inc. to become the No.1 player in the fast-growing U.S. car-sharing market. The offer of US$12.25 per share in cash represents a premium of 49% to Zipcar’s Monday close. Zipcar’s shares were up 48.8 percent at US$12.26 on the Nasdaq on Wednesday morning.
Avis Budget buys Zipcar for $500m – a 50% premium to its share value
Cramer's Mad Money - The Car Rental Oligopoly (3/19/13)
By SA Editor Miriam Metzinger: Stocks discussed on the in-depth session of Jim Cramer's Mad Money TV Program, Tuesday March 19.
Spotlight On Rental Car Company Valuations
By Wall Street Strategies:Merger Monday brought a long-pursued acquisition of Dollar Thrifty (DTG) by Hertz (HTZ), who will pick up its rental car peer for $87.50 per share, or $2.6 billion. Hertz had been chasing this acquisition publicly for a couple of years and after finally coming to fruition both stocks surged.
Avis Budget drops bid for Dollar Thrifty
Avis Budget Group Inc. said Wednesday that it is dropping its bid to buy rival rental car company Dollar Thrifty, citing current market conditions.
Avis Budget drops bid for Dollar Thrifty
[AP] - Avis says it's no longer interested in buying rival rental car company Dollar Thrifty. Parsippany, New Jersey-based Avis Budget Group Inc. says in a regulatory filing that while it's made significant progress toward getting antitrust approval for a deal, it's dropping its bid because of current market conditions.
Avis Drops Bid for Dollar Thrifty
Avis said it is dropping its more than yearlong effort to acquire Dollar Thrifty Automotive, leaving Hertz as the sole bidder for the car-rental company.
Avis Drops Bid for Dollar Thrifty
Avis said it is dropping its more than yearlong effort to acquire Dollar Thrifty Automotive, leaving Hertz as the sole bidder for the car-rental company.
Avis's Smart Zipcar Buy
By Felix Salmon: What’s the opposite of the winner’s curse?
Avis Splashes Out $500 Million To Buy Itself Something Nice — Zipcar
(Maulleigh)

Main menu

Secondary menu

Car rental firm Avis drops bid for Dollar Thrifty

Related

Latest

User login

Our Blog

Markets Map

Follow Us

Secondary menu