Tagged Dollar Thrifty

Avis Increases Cash Portion of Dollar Thrifty Bid

September 3, 2010

Avis Budget said the offer amounts to a premium of more than 22 percent over the Hertz Global Holdings Inc. offer.

Majors Report Q2 Earnings

By Chris Brown , September 2010

Dollar Thrifty again leads profit performance. Commercial business rebounds; leisure lags.

Hertz Releases Report on Anti-Trust Risks in Dollar Thrifty Acquisition

September 1, 2010

Both the pricing data and the GUPPI results in the report support Hertz's view that a merger of Avis Budget and Dollar Thrifty poses a far higher anti-trust risk than a merger of Hertz and Dollar Thrifty.

Dollar Thrifty Increases 2010 Revenue Guidance

September 1, 2010

The car rental company expects corporate adjusted EBITDA, excluding merger-related expenses, to be within $240 million to $260 million for the full year of 2010, an increase of $40 million from the company's previously announced guidance range.

SEC Approves Hertz and Dollar Thrifty Deal

August 18, 2010

The Securities and Exchange Commission approved The Hertz Corp.'s registration statement for its proposed acquisition of Dollar Thrifty Automotive Group Inc. DTG will hold a special meeting on Sept. 16 for shareholders to vote on the deal.

Dollar Thrifty Expands International Web Sites With CarTrawler

August 18, 2010

Dollar and Thrifty plan to launch new international Web sites, which feature market-specific products and use country-specific languages and currencies.

Dollar Thrifty Assesses Avis Budget Proposal in Aug. 3 Letter

August 4, 2010

In regards to the Hertz merger, Dollar Thrifty takes issue with "Avis Budget's unwillingness to provide a reverse termination fee," which DTAG interprets as a "lack of confidence by Avis Budget in its position" in regards to its ability to remediate any competitive issues and antitrust risks.

Hertz Obtains Canadian Antitrust Regulatory Approval

August 4, 2010

"Getting Canadian antitrust regulatory approval is another step in the process for us to successfully complete the merger with Dollar Thrifty which we look forward to completing in the near future,” said Hertz Chairman and CEO, Mark P. Frissora.

Dollar Thrifty Reports $42.3 Million Net Income in Q2

August 3, 2010

Total revenue flat due to planned reduction in leasing to franchises. Same-store revenue up 2.9 percent. Revenue gains for vehicle rentals partially offset by drop in rental days, though volume improving. Utilization up. Strong used-car market keeps vehicle depreciation costs in check.

Avis Budget Bids $1.3 Billion to Buy Dollar Thrifty

July 29, 2010

Bid of $46.50 a share tops Hertz offer, though lower than Dollar Thrifty’s current stock value. Avis bid includes “removing the matching rights, eliminating the break-up fees, and increasing the commitment to secure antitrust approvals,” according to an Avis Budget Group letter to Dollar Thrifty.

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