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Dollar Thrifty responds to Avis Budget Group's May 3 letter about offering a competing bid to Hertz and tells the company that it “is prepared to entertain a 'substantially higher offer.” Dollar Thrifty also tells Avis Budget that it "mischaracterized prior events and interactions between the two companies."
Read More →Ronald Nelson, Avis Budget’s chairman and chief executive officer, sends a letter to Dollar Thrifty’s executives and says the company wants to make a “substantially higher offer” than Hertz.
Read More →The deal would give Hertz 1,550 additional locations worldwide and a total of 9,800 across six continents. The combined market share for the group will be 24 percent, based on Auto Rental News’ 2009 estimates of total fleet size.
Read More →Dollar Thrifty Automotive Group Inc. reported net income of $27.3 million and Corporate Adjusted EBITDA of $49.4 million for first quarter of 2010. Dollar Thrifty's total revenue reached $348.3 million in the first quarter, compared to $362.4 million in the year-ago period.
Read More →The deal will give Hertz an additional 1,550 locations worldwide and a total of 9,800 across six continents. Under the terms of the deal, Hertz will pay $41 a share, a 19 percent premium over Dollar Thrifty’s 30-day average stock price. The offer is 80 percent cash and 20 percent stock.
Read More →The transaction provides the company with the funding to complete expected fleet purchases, DTG’s President and CEO Scott L. Thompson said. "It also confirms that the company is again able to access vehicle financing at competitive rates and enhancement levels and highlights our plan to lower the overall interest carry cost of our fleet consistent with our focus on return on assets," he added.
Read More →The car rental company said it will add 19 domestic and nine international franchises. As of Dec. 31, 2009, in addition to the 296 company-operated stores, Dollar Thrifty has 1,262 franchise locations in 81 countries.
Read More →This week's strong performance by Dollar, Avis and Hertz is a positive step as analysts expect 2010 to remain a challenging year for the industry.
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Hertz, Avis Budget and Dollar Thrifty improved earnings year over year. Expect continued—if modest—improvements in 2010.
Read More →Dollar Thrifty Automotive Group realized a $69.6 million year-over-year improvement in Corporate Adjusted EBITDA for the fourth quarter of 2009 after four consecutive quarters of year-over-year improvement in financial performance.
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