Avis Budget (CAR) buys Zipcar (ZIP) for $12.25 a share, a 49% premium over yesterday's closing...

|About: Avis Budget Group, Inc. (CAR)|By:, SA News Editor

Avis Budget (CAR) buys Zipcar (ZIP) for $12.25 a share, a 49% premium over yesterday's closing price. The deal is expected to close in the spring of 2013 and will value the ride-sharing company at close to $500M.