Avis raises cash portion of Dollar Thrifty offer; blasts Hertz on antitrust concerns

Summary Box: Avis ups cash part of takeover bid

WRESTLING FOR CONTROL: Avis Budget Group Inc. boosted the cash component of its acquisition offer for Dollar Thrifty Automotive Group Inc. by $1.50 per share to $40.75 per share. The stock portion of the bid remains unchanged. Avis is hoping this will win over Dollar’s shareholders and get them to reject a $1.17 billion bid made by rival Hertz Global Holdings Inc.

DECISION TIME: Dollar’s shareholders will attend a special meeting on Sept. 16 to vote on the Hertz offer. Avis says it’s willing to sign a deal with Dollar within five days of the meeting if stockholder turn down Hertz’s bid.