Zipcar Stockholders Approve Acquisition by Avis Budget Group
Avis Budget Group and Zipcar announced on March 7 that Zipcar stockholders voted to approve the adoption of the merger agreement with Avis Budget Group.
Avis Budget Group, Inc. and Zipcar, Inc. announced that Zipcar stockholders voted at a meeting on March 7 to approve the adoption of the merger agreement with Avis Budget Group, according to a company press release.
Approximately 98% of the shares voted in favor of adopting the merger agreement, representing about 72% of Zipcar's outstanding shares of common stock as of the meeting date.
The companies currently anticipate the transaction to be completed during the week of March 11, subject to review by UK competition authorities and other customary closing conditions. The transaction has previously received regulatory clearance in the U.S.
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