Hertz Global Holdings, Inc. announced Monday that it successfully won regulatory approval from the Canadian Competition Bureau regarding its merger with Dollar Thrifty Automotive Group Inc.
Hertz filed its Competition Act notice on May 21, 2010. On June 21, 2010 the waiting period expired under the Competition Act without the issuance of a second or supplementary request for information. On July 27, 2010 the Competition Bureau issued a no-action comfort letter to Hertz Global Holdings Inc., thereby satisfying the Canadian regulatory condition in its merger agreement with Dollar Thrifty.
"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's well-established presence in the value leisure segment of the U.S. and Canadian airport car rental markets, as well as other key international markets, complements Hertz's global presence in the business and premium leisure car rental segments."