Avis Budget acquisition of Zipcar receives U.K. antitrust clearance Avis Budget Group (CAR) and Zipcar (ZIP) announced that the United Kingdom Office of Fair Trading has determined that Avis Budget's planned acquisition of Zipcar does not qualify for investigation under U.K. antitrust law. The transaction has now received regulatory clearance in both the United States and the United Kingdom. The companies currently anticipate that the transaction will be completed during the week of March 11, subject to customary closing conditions.
Avis Budget higher fleet costs righted by year-end, says JPMorgan JPMorgan believes the higher fleet costs noted yesterday by Avis Budget is more of a transitory issue that will be righted by year-end. The firm views yesterday's pullback in shares as a buying opportunity and keeps an Overweight rating on Avis Budget with a reduced price target of $68.