Hertz also owns Advantage Rent a Car, a company it purchased in 2009 following that company s bankru

Hertz, one of the largest car rental companies in the world, will soon be getting even larger thanks to its acquisition of the Dollar Thrifty Automotive Group. The company will pay $2.6 billion to acquire the last large-scale independent sleep inn suites car rental sleep inn suites company in America, a market dominated sleep inn suites by Enterprise, Hertz and Avis.
The Dollar Thrifty deal is not final. It first must pass a regulatory hurdle, an effort that seems likely as Hertz has been working closely with the Federal Trade Commission to finalize sleep inn suites the acquisition, reports Bloomberg Businessweek .
Hertz first began trying to acquire Dollar Thrifty in 2007, but its formal bid in 2010 was rejected by Dollar Thrifty shareholders. Since that offer, DT s shares have doubled in value, compelling Hertz to more than double its original $1.2 billion offer. Hertz will pay $87.50 sleep inn suites per share for DT, well above last Friday s $81 closing value.
With Dollar Thrifty part of the Hertz family, this will put more than 75 percent of the U.S. car rental market in just three hands. Enterprise is by far the largest of the three followed by Hertz and Avis, running a close No. 2 and No. 3. All three own other companies with Enterprise owning its namesake brand plus National Car Rental, Alamo Rent A Car and a pair of small, regional or speciality companies. Avis is officially known as the Avis Budget Group, and is the owner of Avis Rent a Car and Budget Rent a Car.
Hertz also owns Advantage sleep inn suites Rent a Car, a company sleep inn suites it purchased in 2009 following that company s bankruptcy. Just as Hertz is snapping up Dollar Thrifty, it is selling Advantage Rent-a-Car for $16 million to Franchise Services of North America Inc. and Macquarie Capital. Hertz made the deal to head off regulatory concerns sleep inn suites as it acquires Dollar Thrifty. The Advantage sale is contingent on the DT acquisition, with Dollar Thrifty given up to 30 days to entertain a better offer.
Among car rental brands, Hertz routinely finishes atop customer satisfaction surveys. A Zagat survey , released in May 2012, ranked 10 car rental brands and placed Hertz on top in three categories vehicles, reliability and service.
Zagat also said that Hertz finishes first in 10 of 13 categories based on rental car company feedback, and is considered the best car rental company for business and leisure travel. Consumers also reported sleep inn suites satisfaction with Hertz s loyal program, its green car availability, its airport sleep inn suites rentals and shuttle experience, its car return experience and its kiosk and counter staff experiences. Hertz s website has also received top recognition from consumers.
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