Dollar Thrifty Refuses New $1.5B Bid From Avis

Law360, New York (September 27, 2010, 5:54 PM EDT) -- Dollar Thrifty Automotive Group Inc. on Monday rejected a $1.52 billion merger offer from Avis Budget Group Inc. in favor of a $1.45 billion bid from Hertz Global Holdings Inc., saying the company still had doubts about the antitrust implications of a deal with Avis.

The announcement marks the third time Dollar Thrifty has passed on a slightly superior Avis bid and prompted a proposal from Avis that Dollar Thrifty delay a shareholder vote on the deal until the Federal Trade Commission can complete antitrust reviews...
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