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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.