Hertz recently announced that Ford Motor Company suggested, via a preliminary non-binding proposal, to acquire all of the outstanding shares of Hertz Class A common stock it doesn’t currently own. The acquisition would occur through merger and the price of the stock would be $30 per share. Ford currently owns 81.5% of Hertz’ Class A common stock.
The Hertz Board of Directors will soon be meeting to discuss the possibility of the merger. The Board must approve of the deal as well as give a favorable recommendation to shareholders as to the negotiation, execution and performance of a definitive merger agreement.
