Your web browser is not supported anymore. works with a wide range of browsers. However, if you'd like to use many of our latest and greatest features, please upgrade to a modern, fully supported browser.
Find the latest versions of our supported browsers below.
  • Hertz acquires Dollar Thrifty after five years of waiting

    Aug 28, 2012, 09:09
    Hot Pic Title

    American car hire company Hertz Global Holdings Inc. acquired its rival Dollar Thrifty Automotive Group Inc. for $2.6 billion after trying to effect this deal for more than five years.

    As a result, Hertz agreed to acquire Dollar Thrifty for $87.50 per share. It is eight percent more than the price at the moment the trading was closed on the 24th of August and almost twice more than the last Hertz offer made about two years ago.

    Dollar Thrifty share on American car rental market is 5%. At the same time Hertz, Enterprise Rent-A-Car и Avis Budget Group Inc. have a common control over 75% of this market. Hertz holds second place in this market and will be able to save $160 million thanks to this merger agreement.

    Hertz first decided to acquire Dollar Thrifty in 2007 and made a first formal proposal on a merger agreement in 2010. At the time Hertz estimated its rival at $1.2 billion.

    According to Hertz and Dollar Thrifty, this mergence is the best strategic option for both companies that will result in creating of a global, multi-brand car rental leader.

    Other news