Hertz agrees to buy rival Dollar Thrifty car rental for $1.17B
Hertz Global Holdings (HTZ), the world's largest car rental company, said Monday it has agreed to buy rival Dollar Thrifty Automotive Group (DTG) for about $1.17 billion in cash and stock.
Hertz said the deal will give it an another 1,550 locations, boosting its total to 9,800. It said it will boost its leisure rental business in Europe and elsewhere.
Hertz said its bid values Dollar Thrifty at $41 per share, a 5.5% premium to Friday's closing price of $38.85. The offer is 80% cash and 20% Hertz stock.
Source: Hertz agrees to buy rival Dollar Thrifty car rental for $1.17B
Hertz said the deal will give it an another 1,550 locations, boosting its total to 9,800. It said it will boost its leisure rental business in Europe and elsewhere.
Hertz said its bid values Dollar Thrifty at $41 per share, a 5.5% premium to Friday's closing price of $38.85. The offer is 80% cash and 20% Hertz stock.
Source: Hertz agrees to buy rival Dollar Thrifty car rental for $1.17B
