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Avis Budget Group, Inc. (CAR)

  • Jul. 15, 2013, 7:05 AM
    Avis Budget Group (CAR) acquires Payless Car Rental - the nation's 6th largest car rental company - for $50M in cash. Payless has about $80M in annual revenue. Avis had about $5B in revenue last year. (PR)
    | Jul. 15, 2013, 7:05 AM | Comment!
  • Jan. 2, 2013, 6:46 AM
    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.
    | Jan. 2, 2013, 6:46 AM | Comment!
  • Sep. 5, 2012, 6:35 PM
    Avis (CAR) says it plans to buy Apex Car Rentals, New Zealand’s largest independent car rental firm, for $29M. Apex operates a fleet of ~4,000 rental cars, 1% of the size of Hertz’s (HTZ) $2.3B purchase of Dollar Thrifty (DTG) and 3% of the size of DTG's fleet. But the deal boosts CAR's international presence, and should dispel any last thoughts that it's still considering another play for DTG.
    | Sep. 5, 2012, 6:35 PM | Comment!
  • Jul. 11, 2012, 7:01 AM
    Zipcar (ZIP) acquires Austrian firm Denzel Mobility CarSharing GmbH for an undisclosed amount as it makes another move into Europe. The strategy makes some sense at its surface with more Europeans seemingly predisposed to share rides than U.S. counterparts.
    | Jul. 11, 2012, 7:01 AM | Comment!
  • Dec. 14, 2011, 8:53 AM
    Zipcar (ZIP) continues its expansion efforts (I, II), announcing it has exercised its option to obtain a majority stake (60%) in Barcelona-based car sharing service provider Avancar. Zipcar, which also recently acquired U.K. car rental firm Streetcar,  adds it plans on further expanding its European footprint going forward.
    | Dec. 14, 2011, 8:53 AM | Comment!
  • Sep. 14, 2011, 9:37 AM
    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.
    | Sep. 14, 2011, 9:37 AM | Comment!
  • Aug. 22, 2011, 3:28 AM
    Looking to end a long-running bidding war, Dollar Thrifty (DTG) tells Hertz (HTZ) and Avis (CAR) to make "best and final" acquisition offers by early October. However, the suitors are unlikely to submit final proposals until they know they can get antitrust clearance, sources say. (PR)
    | Aug. 22, 2011, 3:28 AM | Comment!
  • Jun. 14, 2011, 7:10 AM
    Avis Budget Group (CAR) agrees to buy the outstanding shares of Avis Europe for £3.15 each, valuing the deal at ~£635M ($1B). The deal "reunites the global operation of the Avis and Budget brands under one corporate umbrella, and is both financially and strategically compelling." (PR)
    | Jun. 14, 2011, 7:10 AM | Comment!
  • Jun. 6, 2011, 6:40 AM
    Dollar Thrifty's (DTG) board unanimously recommends shareholders not tender their shares into the $72/share offer made by Hertz (HTZ), citing "uncertainty surrounding the length and outcome of the regulatory process." (PR) (previously)
    | Jun. 6, 2011, 6:40 AM | Comment!
  • May 19, 2011, 9:24 AM
    Dollar Thrifty Automotive (DTG) adopts a poison pill shareholder rights plan designed to avert an undesired takeover proceeding too quickly, adding another wrinkle to the bidding war between Hertz (HTZ) and Avis (CAR) over the car-rental company.
    | May 19, 2011, 9:24 AM | Comment!
  • May 9, 2011, 6:56 AM
    Hertz (HTZ) offers $2.36B to buy Dollar Thrifty (DTG), in a cash-and-stock deal worth $72/share at Friday's closing price. It's a 3.3% premium to Friday's close, and a 24% premium to the offer announced by Avis Budget (CAR). (PR)
    | May 9, 2011, 6:56 AM | Comment!
CAR vs. ETF Alternatives
Company Description
Avis Budget Group Inc provides car and truck rentals and ancillary services to businesses and consumers inNorth America, Europe, Australia, New Zealand and certain other regions.