Dollar Thrifty Will Review Hertz Offer

Dollar Thrifty Automotive Group, Inc. said they will review yesterday’s offer by Hertz Global Holdings, Inc., to acquire all of the outstanding shares of common stock of Dollar Thrifty for a price of $72 per Dollar Thrifty share, consisting of $57.60 in cash and 0.8546 shares of Hertz common stock.

The $2.2 billion deal is the second attempt by Hertz to obtain Dollar Thrify. Earlier acquisition attempts have been opposed by Avis.

In a statement, Dollar Thrifty said its board of directors will “review and consider Hertz's offer and related statements in accordance with its fiduciary duties to shareholders.” The company said they will have no further comment on the matter and advised Dollar Thrifty shareholders to take no action pending the board's review.