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Travel & Entertainment M&A image Travel & Entertainment M&A » By The Online Investor Staff, updated Fri., Dec. 6, 7:59 PM Recent mergers and acquisitions in the Travel & Entertainment M&A category.

Slide #67. Avis Budget Group, Inc. Zipcar, Inc.

Acquirer: Avis Budget Group, Inc. (CAR)
Acquiree: Zipcar, Inc. (ZIP)
Details: Avis Budget Group, Inc. and Zipcar, Inc., the world's leading car sharing network, today announced that Avis Budget Group has agreed to acquire Zipcar for $12.25 per share in cash, a 49% premium over the closing price on December 31, 2012, representing a total transaction value of approximately $500 million. The transaction is subject to approval by Zipcar shareholders and other customary closing conditions, and is expected to be completed in the spring of 2013. The Boards of Directors of both companies unanimously approved the transaction, and Zipcar shareholders representing approximately 32% of the outstanding common stock have agreed to vote their shares in support of the transaction.

Avis Budget Group is a provider of mobility solutions through its three brands, Avis, Budget and Zipcar, together with several other brands. Co. has two segments: Americas, which provides and licenses Co.'s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America and the Caribbean, and operates its car sharing business in certain of these markets; and International, which provides and licenses Co.'s brands to third parties for vehicle rentals and ancillary products and services in Europe, the Middle East, Africa, Asia and Australasia, and operates Co.'s car sharing business in certain of these markets.

CAR SEC Filing Email Alerts Service


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Avis Budget Group is a provider of mobility solutions through its three brands, Avis, Budget and Zipcar, together with several other brands. Co. has two segments: Americas, which provides and licenses Co.'s brands to third parties for vehicle rentals and ancillary products and services in North America, South America, Central America and the Caribbean, and operates its car sharing business in certain of these markets; and International, which provides and licenses Co.'s brands to third parties for vehicle rentals and ancillary products and services in Europe, the Middle East, Africa, Asia and Australasia, and operates Co.'s car sharing business in certain of these markets.

CAR SEC Filing Email Alerts Service


Open the ZIP Page at The Online Investor »

Company Name: 
Avis Budget Group Inc
Stock buyback: 
CAR buyback
Website: 
www.avisbudgetgroup.com
Sector: 
Business Services & Equipment
Number of ETFs Holding CAR: 
41
Total Market Value Held by ETFs: 
$302.25M
Total Market Capitalization: 
$2.20B
% of Market Cap. Held by ETFs: 
13.71%
Company Name: 
Zipcar, Inc.
Website: 
www.zipcar.com
Sector: 
Air Services Other
 

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