Local Business Alert

Zipcar acquisition will bring windfall for local business mogul Steve Case

The acquisition of Zipcar for nearly $500 million will bring a financial windfall for local business mogul Steve Case, who holds a 20 percent stake in the car sharing company.

Zipcar announced Wednesday morning it had accepted a buyout offer worth $12.25 per share from rental car company Avis. The price represents a 49 percent premium over Zipcar's closing price on Dec. 31.

Read more at:
http://www.washingtonpost.com/blogs/capital-business/post/zipcar-acquisition-will-bring-windfall-for-investor-steve-case/2013/01/02/db00dba2-54f4-11e2-a613-ec8d394535c6_blog.html

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