Avis Raises Cash Offer In Battle For Dollar Thrifty

Law360, New York (September 23, 2010, 11:57 AM EDT) -- Avis Budget Group Inc. on Thursday increased the cash portion of its offer for Dollar Thrifty Automotive Group Inc., upping the stakes in its heated battle with Hertz Global Holdings Inc. for the discount car rental company.

Avis' new bid raises the cash portion of the offer to $45.79 for each share of Dollar Thrifty stock from an earlier bid of $40.75. Combined with an offer of 0.6543 shares of Avis stock for each share of Dollar Thrifty, the increased bid values Dollar Thrifty at around...
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