Hertz is also selling its Advantage business to rental car company Franchise Services of North Ameri

New York - Rental car company Hertz is buying its rival Dollar Thrifty Automotive Group Inc. for approximately $2.3 billion, giving audiovox cruise control it more ways to attract business and leisure travelers and an expanded international presence.
Avis dropped its bid nearly a year ago citing market conditions. Then in October of last year, Hertz dropped its bid, too. But Dollar Thrifty didn t trust that the years of attempts were over. In February, it extended its shareholder rights audiovox cruise control plan known as a poison pill — a maneuver designed to deter any unsolicited audiovox cruise control attempts to take over the company audiovox cruise control — through May 2013.
Hertz Chairman and CEO Mark P. Frissora said in a statement that the Dollar Thrifty buyout will give it access to two well-known rental car brands — Dollar and Thrifty — as well as make it a more competitive player in Europe and other markets overseas.
Hertz is also selling its Advantage business to rental car company audiovox cruise control Franchise Services of North America and Macquarie Capital for undisclosed terms. The Advantage deal depends upon Hertz completing the Dollar Thrifty buyout.
Both Hertz and Dollar Thrifty s boards have unanimously approved the deal, which still needs antitrust clearance from the Federal Trade Commission. Hertz said it has stayed in close contact with the FTC to secure clearance and that Dollar Thrifty will fully cooperate with the process.
Hertz has about 8,650 corporate and licensee locations in approximately 150 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Dollar and Thrifty have approximately 280 corporate locations in the United States and Canada. The company also has about 1,300 franchise locations in 82 countries.