By Jennifer Waters, CBS.MarketWatch.com
Aug 19, 2000 NewsWatch
GARDEN CITY, N.Y. (CBS.MW) -- Car rental chain Avis Group Holdings Inc. (AVI) said Friday that it has formed a
special committee to mull Cendant Corp.'s $29 per share takeover bid.
The committee, composed of independent directors, will consider the $750 million offer Cendant (CD) made earlier
this week for the 25.6 million outstanding shares it does not already own. The world's No. 2 car rental chain did
not say when the committee would meet.
Shares of Avis closed unchanged Friday at 31 7/16. Cendant shares were off 1/8 to 12 11/16
Jennifer Waters is a reporter for CBS.MarketWatch.com.
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