Entering text into the input field will update the search result below

Biggest holder in Avis Budget presses for three more board seats

Feb. 15, 2018 7:39 PM ETAvis Budget Group, Inc. (CAR) StockCARBy: Jason Aycock, SA News Editor
  • SRS Investment Management, the biggest investor in Avis Budget (NASDAQ:CAR), is pressing for a board shakeup that would give it three more seats.
  • That means seeking five total seats on a 12-member board, including the two it added in a 2016 deal.
  • SRS controls 14.7% of voting shares and another 16% in derivatives; the company set up a poison pill last month to block SRS from exceeding 15% of voting stock.
  • Amid increasing tension between the two, Avis says it offered SRS a third director and a say in changes, and signals it's open to a deal by warning about SRS influence on any transaction it might come to.
  • CAR is up 1% in after-hours trade.

Recommended For You

More Trending News

About CAR Stock

SymbolLast Price% Chg
Market Cap
PE
Yield (TTM)
Rev Growth (YoY)
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
CAR--
Avis Budget Group, Inc.