Zipcar Inc. (ZIP) announced Wednesday morning that it agreed to be acquired by Avis Budget Group (CAR) for $12.25 per share in cash, representing a total transaction value of approximately $500 million.
Zipcar gapped open sharply higher Wednesday, but moved in a narrow range throughout the session. The stock closed up by 3.94 at $12.18 on the highest volume of the year. Zipcar leaped to a 6-month high and re-crossed its 200-day moving average.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.