CAR - Avis Budget enters into restated cooperation pact with SRS Investment

• In a regulatory filing , Avis Budget ( NASDAQ: CAR ) entered into a fourth amended and restated cooperation pact with SRS Investment Management, LLC and certain of its affiliates, regarding the membership and composition of the company's board and related matters, following approval thereof by the directors not designated by SRS.
• The pact amends and restates the third amended and restated cooperation pact by and between the company and SRS dated as of February 23, 2020, as previously amended.
• With the move, SRS has agreed to continue abiding by certain standstill provisions during a standstill period ending on the earlier of December 31, 2024.
• During the Standstill Period, SRS has agreed not to acquire ownership of more than the greater of  18,500,000 and  44.5% of the company's outstanding voting securities.

For further details see: