Avis Budget Receives U.S. Antitrust Clearance for Zipcar Acquisition

Avis Budget Group Inc. and Zipcar Inc. announced  Feb. 12 that the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, expired on Feb. 11, 2013 in connection with Avis Budget's previously announced agreement to acquire Zipcar.

The closing of the transaction remains subject to other customary conditions, including approval by Zipcar shareholders and review by UK competition authorities.

The companies currently expect Avis Budget Group's acquisition of Zipcar to be completed in March or April 2013.

Read more about the acquisition here.

You can also read a blog from ARN Executive Editor Chris Brown here about the acquisition.

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