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

Car Rental Rates Up, Fleet Sales Down — Correlation?

Car rental companies’ recent fleet discipline is needed now more than ever.

Hertz, Avis Autonomy Partnerships: Good First Steps on a Long Path

Two new autonomous vehicle project partnerships bring the importance of fleet management to the fore.

An Inside Look at Car Rental in China

A trip to a new car rental convention in Guangzhou reveals a booming market, yet one facing unique challenges.

Job Finder: Access Top Talent. Fill Key Positions.

>