Local & Regional
Thu September 23, 2010
Dollar Thirfty New Bid
By Associated Press
New York City, NY – NEW YORK (AP)-- Avis raised its offer for Dollar Thrifty to $1.52 billion in cash and stock Thursday, one week before a scheduled vote by shareholders on a bid from rival car rental company Hertz.
The latest offer from Avis values Dollar Thrifty at $53 per share, compared with a $50 per-share offer from Hertz.
The rental-car rivals are fighting for control of Dollar Thrifty, a chain known for lower rates that appeal to leisure travelers, to gain access to those customers.