Hertz Pull Out Of Dollar Bid

Hi all,

Breaking news out of the U.S. yesterday has stated that Hertz have withdrawn their tender offer to buy Dollar Thrifty.

Reports state that Hertz have cited Dollar Thrifty’s plan to commence with a share repurchase program and also current market conditions as the reason for the withdrawal.

However a Hertz spokesman has confirmed that they will continue to pursue FTC clearance for the deal and if approved will re-evaluate its offer.

“Hertz continues to believe that a merger with Dollar Thrifty is in the best interests of both companies,”

“Once anti-trust clearance has been obtained, Hertz will reassess the appropriate price and other terms of the proposed transaction based on Dollar Thrifty’s share repurchase program, Dollar Thrifty’s performance, Dollar Thrifty’s outlook and prevailing market conditions at that time.”

usrentacar.co.uk’s Dollar Buyout Timeline

30/07/10 – Avis Budget Enter Bidding For Dollar Thrifty Car Hire

05/08/10 – Dollar Thrifty Politely Decline Avis Budget Offer

03/09/10 - Budget Car Hire Increase Dollar Car Rental Bid

30/09/10 – Avis Budget’s Response To Hertz’s Comments Over Dollar Thrifty

21/01/11 – Dollar And Avis/Budget Provide Joint Statement Regarding Takeover

22/02/11 – Avis Budget Seeks Dollar Thrifty Clarity

10/05/11 – Hertz Make New Bid For Dollar Thrifty

29/07/11 – My Take On The Dollar Thrifty Buy Out

12/08/11 – Could Dollar Rent A Car Be Losing Patience?

30/08/11 – Letter From Dollar Thrifty To Hertz And Avis Budget

08/09/11 – Dollar Thrifty Set Deadline For Purchase Offers

14/09/11 – Avis Budget Withdraw Bid For Dollar Thrifty Group

06/10/11 – What’s The Hold Up With The Dollar Thrifty Deal?

What will be the next chapter in this epic?

regards,

James

 car hire USA


Bad Behavior has blocked 538 access attempts in the last 7 days.