CNBC Report: Avis Hears from FTC
Concessions regarding a merger with Dollar Thrifty called “manageable.” Full FTC report has not yet been released.
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.
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