CNBC Report: Avis Hears from FTC

CNBC's David Faber reported yesterday that Avis Budget Group has finally received specifics from the Federal Trade Commission regarding divestitures to move ahead with any purchase of Dollar Thrifty Automotive Group.

Faber reported that "people familiar with the situation" believe that Avis' concessions to make the merger happen are "manageable." Avis is reviewing the FTC's response to determine the full economic consequence of those requests. "We are going to hear from the FTC in short order," said Faber in his report, "this week, next week, soon." 

Dollar Thrifty's board currently is pondering an offer from Hertz of about $72 per share. Dollar Thrifty is expected to respond to that by Hertz by Tuesday, according to the report. While an Avis counter offer is seen as likely, none has been announced.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

The Customer Isn’t Always Right

Not caving to a customer with a blatant agenda may have consequences, especially for a small rental company that relies on stellar Yelp ratings to advertise. But business integrity must prevail.

The Truth Behind Compact Van Depreciation

Why are large van values holding up better than their compact counterparts, and will it last?

Car Rental’s Call to Action on Autonomous Vehicles

The car rental industry has built-in advantages to support a world with driverless cars, but it needs to take the next step in partnering with autonomous vehicle stakeholders.

Job Finder: Access Top Talent. Fill Key Positions.