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Avis buying Zipcar in deal worth nearly $500M

January 2, 2013 7:00 AM

PARSIPPANY, N.J. (AP) - Avis is buying Zipcar for $491.2 million, expanding its offerings from traditional car rentals to car sharing services. Avis Budget Group Inc. will pay $12.25 per share, which is a 49 percent premium to the company's Friday closing price. The companies put the total value of... more »

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