Kirkland Reps Avis Budget In $1B Bid For Avis Europe

Law360, New York (June 14, 2011, 5:30 PM EDT) -- Avis Budget Group Inc., recently outbid by Hertz Global Holdings Inc. for Dollar Thrifty Group Inc., announced Tuesday that it had set its sights on independently traded Avis Europe PLC with a £3.15 ($5.16) per share cash offer worth roughly $1 billion.

Parsippany, N.J.-based Avis Budget didn't officially run up the white flag on the Dollar Thrifty deal, which has not won approval from U.S. antitrust authorities, but hinted that the potential tie-up was on life support, saying its "focus squarely will be on completing and...
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