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Avis Budget plays defense against large shareholder [Seeking Alpha]

AVIS BUDGET GROUP (CAR)  More Company Research Source: Seeking Alpha
Last avis budget group earnings: 5/2 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.avisbudgetgroup.com
PDF Avis Budget plays defense against large shareholderAvis Budget Group (NASDAQ:CAR) approves a one-year stockholder rights plan to protect the interests of all stockholders.The company says the rights plan is intended to preserve its ability to evaluate and pursue all strategic actions and prevent large shareholder SRS Investment Management 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."We are disappointed that SRS has forced us into a position where we need to take this action to protect the interests of all stockholders,” says Avis lead director Leonard Coleman.Source:Press ReleaseClick to subscribe to real-time analytics on CARNow read:Preferred Yields 9.8% With Less Risk Than First Meets The Eye » [Read more]

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