Over the last few years, the rental car industry has experienced a number of consolidations. Dollar

Two of the giants in the rental car industry have agreed to merge. On Sunday night, Hertz Global Holdings made an announcement that said it had agreed to buy Dollar Thrifty for an amount estimated to be worth $2.3 billion. The agreement ended Hertz's pursuit of Dollar Thrifty enterprise rental cars used cars for sale that has gone on for three years, one that also survived Avis Budget Group's rival bid and an initial rejection enterprise rental cars used cars for sale fro Dollar Thrifty's shareholders from a prior offer that was lower.
The agreement calls for Hertz to pay in cash $87.50 for each share of Dollar Thrifty enterprise rental cars used cars for sale stock in a tender offer. That is a premium of 8% over the Friday closing prices of Dollar Thrifty stock. An important part of the agreement is that Hertz would sell Advantage Rent a Car, its discount car rental unit, to car rental franchiser, Franchise Service of North America as well as Macquarie Capital.
The chief executive and chairman of Hertz, Mark Frissora said the deal was very good and the company was pleased it had finally reached a purchase agreement with Dollar following enterprise rental cars used cars for sale a lengthy pursuit. He said the company felt the deal was economically beneficial to both companies.
The chairman, chief executive and president of Dollar Thrifty, Scott Thompson said in the same release that following three years of activity related to a merger, he was pleased that an agreement was reached which was a win-win situation for both Dollar Thrifty and Hertz.
Over the last few years, the rental car industry has experienced a number of consolidations. Dollar Thrifty, which is based out of Tulsa, Oklahoma, was thought to be one of the last remaining targets of acquisition that was still attractive.