Getting your player ready...
Avis Budget Group, the U.S. auto-rental chain, said it will abandon its $1.56 billion bid to acquire Dollar Thrifty, leaving Hertz as the lone remaining suitor.
“We have decided not to pursue a transaction at this time in light of current market conditions,” Parsippany, N.J.-based Avis said Wednesday in a regulatory filing. Avis is trying to raise money in the debt markets to finance its acquisition of Avis Europe for $1 billion.
