MD-based Rent-A-Wreck of America Inc. to be acquired by San Diego

Daily Record, The (Baltimore), Oct 11, 2005 by Daily Record Staff

Rent-A-Wreck of America Inc., of Owings Mills, a car leasing company, said it is being acquired by San Diego Car Rentals Inc., of San Diego, in a cash deal in which Rent-A-Wreck's name will survive but it will be totally owned by San Diego. The purchase price was not disclosed; however, it is approximately $2.4 million, based on owners of Rent-A-Wreck's nearly 4.2 million shares of common and 1 million shares of preferred stock receiving 36 cents and 86 cents per share, respectively.