If Zipcar were buying Avis, instead of the other way around, the Cambridge-based car-sharing company's fans would be happier today than they are.
This should be good news. The car rental giant's $500 million purchase of Zipcar is great for stockholders, since Avis is offering 49 percent more per share than Zipcar's closing price Friday. In theory, the takeover is also a half-billion-dollar validation of the idea of car sharing; what once seemed like a utopian social experiment increasingly looks like a mainstream, even essential service for city dwellers who only drive every so often. It should help that Avis buys a lot of cars; Zipcar will be able to buy vehicles more cheaply and make more of them available at peak times. Avis, in turn, gains a foothold in a growing business that archrival Hertz is also pursuing aggressively. http://www.boston.com/bostonglobe/editorial_opinion/blogs/the_angle/2013/01/too_bad_zipcar.html
Article courtesy of Boston.com-The Boston Globe-The Angle posted by Dante Ramos
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