U.K. Regulator Seeks Comments on Avis Deal to Purchase Zipcar
Britain’s antitrust regulator is seeking public comment on Avis Budget Group Inc. (CAR)’s takeover offer for Zipcar Inc. (ZIP) 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.
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