Dollar Thrifty's 'Go Shop' Period Is Closed

Dollar Thrifty Automotive Group Inc. (DTAG) announced Sept. 26 the expiration of the "go-shop" period established pursuant to the terms of its previously announced merger agreement with Hertz.

The "go-shop" period expired at 11:59 p.m., Eastern time, on Sept. 25, 2012. During the "go-shop" period, Dollar Thrifty's financial advisers solicited inquiries from third parties relating to any competing acquisition proposals. According to DTAG, no third-party submitted a proposal to acquire the company during the "go-shop" period.

The tender offer that was received from Hertz on Sept. 10 to acquire DTAG is scheduled to expire at midnight, Eastern time on Oct. 5, 2012, unless the tender offer is extended in accordance with the merger agreement and the applicable rules and regulations of the SEC.

As of this writing, shareholders at DTAG must still approve of the deal. Dollar Thrifty's board of directors unanimously recommends that stockholders accept the tender offer and tender their shares into the tender offer, and if required under applicable law, vote in favor of the adoption of the merger agreement and approval of the merger and the other transactions contemplated by the merger agreement.


Read past coverage of the Hertz and DTAG deal here.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

The Customer Isn’t Always Right

Not caving to a customer with a blatant agenda may have consequences, especially for a small rental company that relies on stellar Yelp ratings to advertise. But business integrity must prevail.

The Truth Behind Compact Van Depreciation

Why are large van values holding up better than their compact counterparts, and will it last?

Car Rental’s Call to Action on Autonomous Vehicles

The car rental industry has built-in advantages to support a world with driverless cars, but it needs to take the next step in partnering with autonomous vehicle stakeholders.

Job Finder: Access Top Talent. Fill Key Positions.