Avis Rumored to Outbid Hertz for Dollar Thrifty Automotive

According to the Wall Street Journal, Avis Budget Group CAR is in the process of outbidding its top rival, Hertz Global Holdings HTZ, to buy Dollar Thrifty Automotive Group DTG. Although Avis has yet to make an official offer, the Wall Street Journal says that a late July or early August proposal would give Dollar Thrifty shareholders enough time to abandon a current bid of $1.2 billion from Hertz, scheduled to be voted on August 18th.