Avis Budget Group Adopts One-Year Stockholder Rights Plan to Protect Stockholders Against “Creeping Control” by SRS Investment Management
Avis Budget Group, Inc. (CAR)
Last avis budget group, inc. earnings: 2/19 04:00 pm
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ir.avisbudgetgroup.com
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Source: GlobeNewswire
Company’s Largest Stockholder Refuses to Renew Cooperation Agreement Expiring Today Board Refreshment Process Underway PARSIPPANY, N.J., Jan. 15, 2018 (GLOBE NEWSWIRE) -- Avis Budget Group, Inc. (NASDAQ:CAR) today announced that its Board of Directors has approved the adoption of a one-year Stockholder Rights Plan to protect the interests of all Avis Budget Group stockholders. The Rights Plan is intended to preserve the Company’s ability to evaluate and pursue all strategic actions and prevent SRS Investment Management, the Company’s largest stockholder, from obtaining effective control without paying a control premium. SRS has disclosed a 30.7% economic interest in Avis Budget Group, including voting power over 14.7% of the outstanding shares and economic exposure to an additional 16% of the outstanding shares through derivative instruments. The Company and SRS entered into a cooperation agreement in May 2017 containing standstill provisions and ownership
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News
- Centrus Energy: Secular Tailwinds And Regulatory Environment Make The Company Still Cheap [Seeking Alpha]Seeking Alpha
- Avis Budget Group to Announce First Quarter 2024 Results on May 1st [Yahoo! Finance]Yahoo! Finance
- Avis Budget Group to Announce First Quarter 2024 Results on May 1stGlobeNewswire
- Avis Budget Group, Inc. (NASDAQ: CAR) had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $202.00 to $183.00. They now have a "buy" rating on the stock.MarketBeat
- Avis Budget Group, Inc. (NASDAQ: CAR) had its price target lowered by analysts at Morgan Stanley from $190.00 to $187.00. They now have an "overweight" rating on the stock.MarketBeat
CAR
Earnings
- 2/12/24 - Beat
CAR
Sec Filings
- 4/3/24 - Form DEFA14A
- 4/3/24 - Form DEF
- 3/18/24 - Form 8-K
- CAR's page on the SEC website