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The Securities and Exchange Commission approved The Hertz Corp.'s registration statement for its proposed acquisition of Dollar Thrifty Automotive Group Inc. DTG will hold a special meeting on Sept. 16 for shareholders to vote on the deal.
Read More →"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.
Read More →In regards to the Hertz merger, Dollar Thrifty takes issue with "Avis Budget's unwillingness to provide a reverse termination fee," which DTAG interprets as a "lack of confidence by Avis Budget in its position" in regards to its ability to remediate any competitive issues and antitrust risks.
Read More →Bid of $46.50 a share tops Hertz offer, though lower than Dollar Thrifty’s current stock value. Avis bid includes 'removing the matching rights, eliminating the break-up fees, and increasing the commitment to secure antitrust approvals,' according to an Avis Budget Group letter to Dollar Thrifty.
Read More →Although Dollar Thrifty has already signed a merger agreement with Hertz Global Holdings, Avis has expressed interest in making a ‘substantially higher bid’ for the company.
Read More →Avis is looking to take on more debt to finance the deal. The offer, which would top Hertz’s $1.2 billion bid, could come in late July or early August.
Read More →Industry analysts caution that the FTC’s second request should not be viewed as either leaning toward approval of or against the acquisition.
Read More →Avis expects the regulatory review process to take several months and believes it is under no immediate pressure to bid for Dollar, according to people familiar with the situation.
Read More →The car rental company said it plans to file this week for a Federal Trade Commission antitrust review of its proposed purchase of Dollar Thrifty Automotive Group Inc. Hertz also made a filing with the Securities and Exchange Commission on Tuesday that outlined its views on the advantages of combining with Dollar Thrifty.
Read More →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."
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