Powers Taylor Posts

Avis Acquires Zipcar For $500 Million

Avis Budget Group (Avis) is a vehicle rentals company that has acquired Zipcar for $12.25 per share.  This extrapolates to $500 million.  Avis is paying for the acquisition in cash.  Avis had around $554 million in cash and equivalents as of the end of September 30, 2012.  Avis’ market capitalization is at around $2.23 billion.

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