Tulsa, OK – Avis makes $1.33B bid for Dollar Thrifty
PARSIPPANY, N.J. (AP) Avis Budget Group Inc. says it has offered $1.33 billion in cash and stock for rival rental-car operator Dollar Thrifty Automotive Group Inc.
The bid is an effort to trump Hertz Global Holdings Inc., which in April said was buying Dollar Thrifty for about $1.17 billion in cash and stock.
Avis Budget's bid consists of $39.25 in cash and 0.6543 shares of Avis Budget stock.
Tulsa-based Dollar Thrifty says it will study the offer.
Copyright 2010 The Associated Press.