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The car rental company said proceeds from the offering will be used to partially fund its proposed acquisition of Dollar Thrifty.
Read More →In a joint statement the two companies said: 'Dollar Thrifty and Avis Budget have agreed to cooperate with respect to Avis Budget's efforts to pursue antitrust clearance of the proposed acquisition by Avis Budget of Dollar Thrifty.'
Read More →Avis Budget states it is planning an exchange offer for Dollar Thrifty's shares within the next 10 business days.
Read More →Prior to the shareholder vote, Hertz said it would end efforts to acquire Dollar Thrifty if DTAG shareholders rejected the deal. The final vote results totaled 11,811,154 votes for and 13,830,126 against, with 4,735 abstentions.
Read More →One top Dollar Thrifty shareholder said Hertz’s cash-and-stock offer undervalues his holdings.
Read More →Dollar Thrifty press release states: "Avis Budget has not demonstrated to our satisfaction ... that it would adequately protect our shareholders in the event that Avis Budget is unable to obtain the required regulatory approvals."
Read More →Avis Budget Group contends that Hertz anti-trust hurdles are "significant." Avis wants delay in shareholder vote.
Read More →Hertz's CEO Frissora calls Avis' letter: "Yet another press release with nothing new other than an admission, at last, that 'antitrust approval is a hurdle for an Avis Budget-Dollar Thrifty deal' ..."
Read More →Avis Budget: "Our revised offer of $45.79 in cash and 0.6543 shares of Avis Budget stock represents a meaningful premium over the revised offer from Hertz."
Read More →Mark Frissora: "Our agreement with Dollar Thrifty provides its shareholders with a substantial premium, deal certainty and a clear path to deal closure by year end."
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