Hertz Global Holdings Inc. and Dollar Thrifty Automotive Group Inc. today announced that they have e

Hertz Global Holdings Inc. and Dollar Thrifty Automotive Group Inc. today announced that they have entered into a definitive merger agreement under which Hertz would acquire Dollar Thrifty for $87.50 per share in cash, in a transaction valued at a corporate enterprise value of approximately $2.3 billion.
Hertz also announced today that it has reached an agreement to sell the Advantage business to Franchise Services of North America ("FSNA") and Macquarie enterprise car rentals for sale Capital. The closing of that divestiture is conditioned upon, among other things, Hertz completing an acquisition of Dollar Thrifty.
The successful completion of the transaction is also subject to regulatory clearance by the Federal Trade Commission. According to the statement, Hertz has remained enterprise car rentals for sale closely engaged with the FTC to secure antitrust clearance for the proposed transaction and Dollar Thrifty will fully cooperate in the process.
Mark P. Frissora, Hertz chairman and CEO, said: "We are pleased to have finally reached an agreement with Dollar Thrifty after a lengthy enterprise car rentals for sale but worthwhile pursuit. We have always believed that a combination with Dollar Thrifty is the best strategic option for both companies. The transaction provides Hertz instant scale with two new, well-established brands with airport concession infrastructure in the mid-tier value segment. We'll be a stronger global competitive player with a full range of rental options not only in the U.S. but in Europe and other markets given Dollar Thrifty's strong international presence. In addition, we look forward to moving enterprise car rentals for sale efficiently and swiftly through the regulatory process having reached an agreement to divest our Advantage enterprise car rentals for sale brand."
"Hertz has made a compelling offer to our stockholders that reflects the strength of our business and our team, said Scott Thompson, president, CEO and chairman of the board of Dollar Thrifty. Hertz is the logical partner for us with the resources to expand our value focused leisure brands in key car rental enterprise car rentals for sale markets around the world. enterprise car rentals for sale After three years of merger-related activity and speculation, I am pleased that we have reached a win-win transaction enterprise car rentals for sale for both Hertz and Dollar Thrifty."