3rd
September
2010
Avis raises Dollar Thrifty bid
posted in Car Rental |
The ongoing battle for ownership of Dollar Thrifty has been stepped up once again.
The Avis Budget group has announced that it has raised the cash portion of its bid for the Tulsa-based Dollar Thrifty, intensifying its hostile bidding war with rival Hertz Global Holdings.
Yesterday, Avis declared that it would now be offering $40.75 per share in cash, an increase from its previous bid of $39.25. It has also announced the offering of a revised share component, which will see 0.6543 Avis shares offered for each Dollar Thrifty share, taking the total value of the bid to $1.35 billion. This represents [...]
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