Avis is buying Zipcar for $491.2 million, expanding its offerings from traditional car rentals to car sharing services. Zipcar, which was founded in 2000, has more than 760,000 members. It went public in 2011.
Avis Budget has increased its offer for Dollar Thrifty, firing the latest salvo in its bidding war for Dollar with archrival Hertz. It's a familiar pattern in the world of mergers and acquisitions, and the data shows that interlopers like Avis often a better chance of taking home the prize.