Avis Budget Withdraw Bid For Dollar Thrifty Group

Hi all,

Breaking news this evening regarding the Dollar Thrifty Group buy out, and as the title suggests Avis Budget have decided to pull out of the running to take over the Tulsa based USA car rental supplier.

In a regulatory filing, Avis Budget sited “current market conditions” for the decision.

We have made significant progress toward obtaining U.S. regulatory clearance for the acquisition of DTG, and we believe that such regulatory clearance could be obtained. Nonetheless, we have decided not to pursue a transaction at this time in light of current market conditions.”

Avis Budget, who have recently spent £635 million on obtaining Avis Europe, made their offer, a combination of $45.79 in cash and 0.6543 shares of common stock or approximately $1.5 billion in aggregate based on stock prices at the time, back in September 2010.

Hertz came in with their own offer and to date this still stands.

My take on the Dollar Thrifty Buy Out…. and not to blow my own trumpet but…………. I said this would happen ;-)



 Florida car hire

Related posts:

  1. Letter From Dollar Thrifty To Hertz And Avis Budget Hi all, Last week Dollar Thrifty sent a letter to...
  2. Avis Budget Seeks Dollar Thrifty Clarity Hi all, Just to keep you updated on the soap...
  3. Dollar Thrifty Politely Decline Avis Budget Offer Hi all, I reported last week about the Budget Avis...
  4. Dollar And Avis/Budget Provide Joint Statement Regarding Takeover Hi all, When Dollar Rent A Car decided not to...
  5. Hertz Make New Bid For Dollar Thrifty Hi all, The soap opera that has become the race...

Related posts brought to you by Yet Another Related Posts Plugin.

Respond to this post

Bad Behavior has blocked 368 access attempts in the last 7 days.