HERTZ SET TO PURCHASE DOLLAR THRIFTY FOR $2.3 BILLION

August 27, 2012 The Unbiased Writer

According to reports, earlier this morning Hertz Global Holdings Inc. said it had struck a long-sought deal, acquiring Dollar Thrifty Automotive Group Inc. for $2.3 billion. Hertz and rival Avis Budget Group, the second- and third-largest in the car rental industry behind leader Enterprise Rent-A-Car, have been competing to buy Dollar Thrifty, the No. 4 company. “We are pleased to have finally reached an agreement with Dollar Thrifty after a lengthy — but worthwhile — pursuit,” said Hertz Chief Executive Mark P. Frissora. “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.” The combined company would have about 10,000 locations around the world and allows Hertz to move into the mid-tier rental car market. Be sure to let us know what you think in the comment section below!


Share

Leave a Reply

Your email address will not be published. Required fields are marked *