Former auto dealer and Advantage Rent A Car owner pleads guilty to fraud and conspiracy. Hecker faces up to 10 years in prison, but avoids a 20-year maximum sentence.
Avis Budget said the offer amounts to a premium of more than 22 percent over the Hertz Global Holdings Inc. offer.
Goldman Sachs and eHi Car Rental’s shareholders signed an investment agreement that will help eHi expand and promote ‘green’ car rental services in China.
Car rental employees found the gun in the vehicle and called police. Officers traced the stolen weapon to a friend of the woman who rented the car.
Ninety-one percent of travelers will use automobiles to reach their holiday destinations. They will also travel shorter distances and spend more money.
The car rental company expects corporate adjusted EBITDA, excluding merger-related expenses, to be within $240 million to $260 million for the full year of 2010, an increase of $40 million from the company's previously announced guidance range.
Both the pricing data and the GUPPI results in the report support Hertz's view that a merger of Avis Budget and Dollar Thrifty poses a far higher anti-trust risk than a merger of Hertz and Dollar Thrifty.