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Avis (CAR +2.4%) says it is dropping its year-long bid to acquire Dollar Thrifty (DTG -0.7%) "in...

Avis (CAR +2.4%) says it is dropping its year-long bid to acquire Dollar Thrifty (DTG -0.7%) "in light of current market conditions," leaving Hertz (HTZ +7.7%) as the sole bidder for DTG. Since Avis' June deal to acquire Avis Europe for ~$1B, financing has become more expensive amid market volatility, partly leading Avis to drop its bid.
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