UPDATE 1-FTC seeks more info on Avis’s Dollar Thrifty deal

June 15 (BestGrowthStock) – Avis Budget (CAR.N: ) said the U.S.
Federal Trade Commission sought additional information with
regard to the car rental company’s potential acquisition of
smaller rival Dollar Thrifty Automotive Group Inc (DTG.N: ).

Avis Budget continues to cooperate with the Federal Trade
Commission in its review of this potential transaction, the No.
2 car rental company in the United States said.

Dollar Thrifty is being wooed by both Avis Budget and the
No. 3 car rental firm, Hertz Global Holdings Inc (HTZ.N: ), with
Avis looking to defend its market share and Hertz aiming to
displace Avis. [ID:nSGE6420H6]

Hertz currently runs just one brand which caters to
business travellers, while Avis Budget already has a leisure
brand that competes with Dollar Thrifty. [ID:nSGE63T0J6]

Avis Budget shares closed at $11.36 and Hertz shares at
$10.55 Monday on the New York Stock Exchange.

Stocks

(Reporting by Bijoy Koyitty in Bangalore; Editing by Don
Sebastian)

UPDATE 1-FTC seeks more info on Avis’s Dollar Thrifty deal