To preserve competition in the rental car business when No. 2 Hertz wanted to buy No. 4 Dollar Thrifty, U.S. regulators had a fix. Industry veteran Sandy Miller warned them it would blow up. He was right.
Advantage Rent A Car, spun off by Hertz Global Holdings Inc. to win U.S. approval for its purchase of Dollar Thrifty Automotive Group Inc., filed for bankruptcy after talks with Hertz over vehicle lease payments broke down.
Eddie Lampert, who has been slicing off pieces of his Sears Holdings Corp. for years, is poised to break off even bigger chunks of the business as he seeks to generate cash to revive the ailing retailer.
Avis Budget Group Inc., once a skeptic about car sharing services, agreed to buy short-term rental pioneer Zipcar Inc. for $491 million, signaling a shift in the industry to embracing drivers who don’t want to own cars.
Avis Budget Group Inc. agreed to pay 636 million pounds ($1.04 billion) for Avis Europe Plc , the second-biggest car-rental company on the continent, possibly taking Avis Budget out of the bidding for Dollar Thrifty Automotive Group Inc.
Avis Budget Group Inc., the Parsippany, New Jersey-based car rental company, is among corporate borrowers planning to issue at least $3.3 billion of bonds in the U.S., according to data compiled by Bloomberg.