No Final Bid From Hertz For Dollar Rent A Car

Hi all,

On the 8th September I blogged about Dollar Rent A Car issuing a final date for all proposed bids. The deadline for these bids was yesterday the 10th October 2011.

Dollar Rent A Car become quite a sort after company this year and at one point were in an extremely good negotiating position when both Avis Budget and Hertz looked prepared to duke it out in a western style bidding war.

However when Avis Budget decided to withdraw from the running and concentrate on purchasing its European namesake, Dollar lost control of the bidding process.

The 10th came and passed, and from all reports Dollar received no official bids.

Now this doesn’t mean that Hertz aren’t interested, very much the opposite, Hertz are very keen to purchase Dollar Thrifty to cement their position as the number 2 rental firm in the U.S. but it does mean that Hertz may be preparing to play a little hard ball to keep the price below the $70.00 per share price that experts believe is the magic number.

Yesterday’s share prices were as follows Dollar Thrifty rose 1.2 percent to $60.40 at the close in New York. Hertz gained 4.6 percent to $10.08 while Avis shares increased 5.6 percent to $11.22.

What’s Dollar’s next move?

What’s Hertz’s next move?

regards,

James,

 car hire USA


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