The news service reports:
An offer in the high $80s a share will be presented to both boards over the weekend. The deal may provide less than a 10 percent premium over Tulsa, Oklahoma- based Dollar Thrifty’s closing price yesterday of $81. It also may fall apart like those that have preceded it.
There have been offers and counter-offers for Dollar Thrifty in the past. So, Avis may come back again.
Dollar General’s 52-week high is $84.91. In early 2011, before initial offers, the shares were below $48. They spiked to $84 in June of last year. When it appeared that there would be no buy-out, Dollar General’s shares fell back to $54 in the spring.
Now, it appears that Dollar General investors will get the sum they hoped for nearly two years ago.
Douglas A. McIntyre
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