Tuesday, August 28, 2012
Tags: advantage , annual , automotive , avis , avis-group , avis-hertz-said , away-the-market , barc
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Aug 27 (Reuters) Hertz Global Holdings, the No. 2. U.S. car rental company, said it will buy smaller rival Dollar Thrifty Automotive Group for about $2.3 billion, cheap summer airline deals ending more than two years of on-off takeover talks.
Hertz will buy Dollar cheap summer airline deals Thrifty for $87.50 per share in cash, a premium of 8 percent over Dollar Thrifty s Friday cheap summer airline deals closing price of $81 on the New York Stock Exchange, and almost double cheap summer airline deals a $1.2 billion cheap summer airline deals offer Hertz made in April 2010.
In a bid to win regulatory approval for the deal, Hertz has agreed to sell its budget brand, Advantage, to Franchise Services of North America and Macquarie Capital. That sale is conditional on completing the Dollar Thrifty purchase.
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