Sixt Group is in talks with Avis Budget Group in regards to Avis' possible merger with Dollar Thrifty Automotive Group, according to the New York Post. Sixt would apparently take $300 to $400 million in annual business to facilitate regulatory approval with the Federal Trade Commission, according to the report.

Sixt Group, one of Europe's largest car rental companies with €807.5 million ($1.14 billion) in revenues last year, would apparently take over a combination of Budget and Dollar Thrifty locations in overlapping markets.

Though a deal has not been announced, the Post reports that talks "have heated up during the past several weeks," according to sources.