Dollar Thrifty (DTG) Falls As Avis (CAR) Puts Its Attention on Avis Europe Deal

Shares of Dollar Thrifty Automotive Group (NYSE: DTG) are lower in pre-open action following news that Avis Budget (NYSE: CAR) announced a deal to acquire Avis Europe for approximately $1 billion.

Commenting on the Dollar Thrifty in the Avis Europe announcement, Avis Budget stated:

Avis Budget noted that it has made progress in its discussions with the Federal Trade Commission regarding its potential acquisition of Dollar Thrifty Automotive Group, Inc. (NYSE: DTG). While Avis Budget will continue to monitor the Dollar Thrifty situation, the Company's focus squarely will be on completing and integrating the significant acquisition of Avis Europe.

Hertz Global (NYSE: HTZ) has its own $72 per share cash bid for Dollar Thrifty.

Dollar Thrifty last traded at $73.25 in pre-open action, down 8% from yesterday's close.

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