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Hertz buys rival Dollar Thrifty for approximately $2.3 billion
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Hertz buys rival Dollar Thrifty Automotive Group for approximately $2.3 billion at a value of $87.50 per share in cash. The takeover negotiations took more than two years and more than doubled Hertz's initial offer of $1.2 billion.
Reportedly, the tipping point was Hertz's decision to offer more than $87 per share, surpassing the closing price of of $81 per share on the New York Stock Exchange.
To make sure the move wins regulatory approval, Hertz has agreed to sell its budget brand Advantage to Franchise Services of North America (FSNA) and Macquarie Capital.
Hertz Global Holdings Inc. is a leading American rental car company with offices in 145 countries worldwide.
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MoreLocation: United States
Start: Tuesday 28 August 2012
End: Thursday 31 January 2013
Duration: 156 days
End: Thursday 31 January 2013
Duration: 156 days
Planning: confirmed
Ended: 110 days ago 
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