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Avis Budget gets U.K. regulatory approval for Zipcar takeover

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Avis Budget Group Inc., of Parsippany, announced Friday the company received regulatory clearance from the United Kingdom of its planned takeover of Cambridge, Mass.-based Zipcar Inc.

According to an announcement, the U.K. Office of Fair Trading determined the acquisition does not qualify for investigation under antitrust law. The transaction already has received regulatory clearance in the United States.

Avis said in its announcement it expects the transaction will be completed this week. Last week, it completed the debt financing needed to fund the acquisition.

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