Hertz Global Holdings Inc. announced the extension of its exchange offer for Dollar Thrifty Automotive Group Inc. and all its outstanding shares. In a Sept. 9 press release, Hertz stated that the withdrawal rights and exchange offer — at $57.60 in cash for the outstanding shares and 0.8546 shares of Hertz common stock —will expire Nov. 1 from its original deadline of Sept. 9.
All other terms of the exchange offer and withdrawal rights remain the same as prior to the extension, and according to the release, about 2.6 million shares of Dollar Thrifty common stock were presented and not withdrawn from the offer as of the end of business on Friday, Sept. 9.
Stockholder questions regarding the exchange offer or requests for exchange offer documents may be directed to Hertz's information agent for the exchange offer, Innisfree M&A Incorporated, toll-free at 877-456-3507. Stockholder questions regarding the exchange offer may also be directed to Hertz's dealer manager for the exchange offer, Barclays Capital, toll-free at 888-610-5877.
For an Auto Rental News editorial on the issue, click here.