Hertz Makes Another Offer For Dollar Thrifty

August 2010 was the last time we heard any news on the Dollar Thrifty buyout deal. Latest news is that Hertz, which is the largest publicly traded rental-car company, offered a bid to buy Dollar Thrifty Automotive Group Inc. for US$2.24 billion in cash and stock. The bid tops one made by Avis about a year ago.

Hertz’s bid comes in at US$72 a share, 24 percent more than Avis’s offer. After Hertz made its announcement on Monday, Dollar Thrifty rose US$9.58, or 14 percent, to US$79.27 in New York Stock Exchange composite trading. The shift was the biggest jump since May 3, 2010, when Avis made a counter bid to Hertz’s original offer. Avis and Dollar Thrifty have been asking U.S. Federal Trade Commission approval for a deal that would join the third- and fourth-largest U.S. rental-car companies. Hertz hopes to avoid such a move.

via egmCarTech

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