News items to watch next week include Groupon's long-awaited IPO, the release of Take-Two Interactive's Grand Theft Auto V, Dunkin' Brands second-ever quarterly report, and more from car rental companies to satellite radio.
After 18 months of letting potential buyers kick its tires, Dollar Thrifty Automotive Group announced that it's no longer for sale. This is bad news for Hertz, which seemed to be the last bidder standing after Avis Budget dropped out. The operators' loss is naturally the consumers' gain, and trends look ominous for this industry going forward.
Hertz Global Holdings's says fourth-quarter profit exceeded the company's forecast as it improved the efficiency of its operations. Strong used-car prices probably don't hurt too.
24/7 Wall St. recently looked at a number of large American companies, some of which are owned by foreign companies, to see which will disappear in 2011. It didn't take long to come up with a list of familiar names such as Sara Lee, Office Depot, Borders, E*Trade and five others.
Dollar Thrifty shareholders voted against a proposed acquisition from larger car-rental competitor Hertz, likely ending Hertz's five-month-long effort to acquire the company and indicating that a competing bid from Avis Budget Group may be gaining traction.
Dollar Thrifty Automotive Group confirmed Thursday that it received a $1.33 billion takeover from Avis Budget Group, which topped an earlier bid from rival Hertz. Now it's up to the car-rental company's board to declare the winner.