Bloomberg News

U.K. Regulator Seeks Comments on Avis Deal to Purchase Zipcar

January 28, 2013

Britain’s antitrust regulator is seeking public comment on Avis Budget Group Inc. (CAR:US)’s takeover offer for Zipcar Inc. (ZIP:US) to determine whether the proposed deal could lessen competition in the U.K. market.

The Office of Fair Trading will accept comments until Feb. 11 on the $491 million offer, the watchdog said today in a statement. Avis Budget’s Jan. 2 bid amounts to $12.25 a share, a 49 percent premium on the Cambridge, Massachusetts-based company’s Dec. 31 closing price.

To contact the reporter on this story: Erik Larson in London at elarson4@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net


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Companies Mentioned

  • CAR
    (Avis Budget Group Inc)
    • $59.14 USD
    • -0.86
    • -1.45%
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