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Although Dollar Thrifty has already signed a merger agreement with Hertz Global Holdings, Avis has expressed interest in making a ‘substantially higher bid’ for the company.
Read More →Avis is looking to take on more debt to finance the deal. The offer, which would top Hertz’s $1.2 billion bid, could come in late July or early August.
Read More →The car rental company expects second quarter improvements on guidance, though it is lowering revenue guidance, along with fleet costs, for full year 2010. Avis Budget bid likely before Aug. 18, analysts say.
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No-show fee implementation has recently turned from discussion to action as car rental companies, trade organizations, online travel agencies and global distribution systems work together to solve the technological hurdles. But can the car rental industry manage the change as a customer-friendly initiative?
Read More →Industry analysts caution that the FTC’s second request should not be viewed as either leaning toward approval of or against the acquisition.
Read More →Avis expects the regulatory review process to take several months and believes it is under no immediate pressure to bid for Dollar, according to people familiar with the situation.
Read More →The car rental company said it plans to file this week for a Federal Trade Commission antitrust review of its proposed purchase of Dollar Thrifty Automotive Group Inc. Hertz also made a filing with the Securities and Exchange Commission on Tuesday that outlined its views on the advantages of combining with Dollar Thrifty.
Read More →Excluding unusual items, first quarter EBITDA was $39 million and pretax loss was $25 million, compared with an EBITDA loss of $3 million and a pretax loss of $63 million in the prior year first quarter.
Read More →Dollar Thrifty responds to Avis Budget Group's May 3 letter about offering a competing bid to Hertz and tells the company that it “is prepared to entertain a 'substantially higher offer.” Dollar Thrifty also tells Avis Budget that it "mischaracterized prior events and interactions between the two companies."
Read More →Ronald Nelson, Avis Budget’s chairman and chief executive officer, sends a letter to Dollar Thrifty’s executives and says the company wants to make a “substantially higher offer” than Hertz.
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