It didn't take long for investors to see the first deal of 2013, and it's an interesting one. Rental car giant
Avis Budget (Nasdaq:
CAR) is acquiring
Zipcar (Nasdaq:
ZIP) in an
all-cash deal
that will vault Avis into the car sharing market, while ending an
emerging growth story that was marked by both significant potential and
unrealized expectations.
The Deal to Be
Assuming that the deal goes through, Avis will be
acquiring
Zipcar in an all-cash deal worth more than $490 million. At $12.25 per
share, Zipcar shareholders are getting a roughly 49% premium to last
year's close.
Continue reading here:
http://www.investopedia.com/stock-analysis/2013/Avis-Zips-Up-Zipcar-CAR-ZIP-HTZ0103.aspx
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