Second’s Out, Round 3 For Hertz Vs Dollar

Hi all,

News from Tulsa, Dollar’s headquarters in the U.S. is that they are expecting an imminent hostile takeover attempt from Hertz! 

The who will purchase Dollar Rent A Car saga dominated last years car hire USA news, as firstly Budget Rent A Car then more prominently Hertz tried to secure FTC approval for a potential buyout.

Well yesterday in an interview with Tulsa World Dollar Thrifty CEO Scott L Thompson said

Hertz is going to try again. We are calling it ‘H3. The truth is, over the last five years I can’t really tell when one attempt ended and another began.

He also added

Look, Hertz is getting close, and I’m certain that they will get regulatory approval at some time. The FTC does not care that we are not for sale. It is ready to get the regulatory process over. The issue that will decide if there will ever be a transaction is price. If Hertz is willing to pay a price that is in our shareholders’ best interest, then something will eventually happen. If not, it will just be more noise.

In a note to employee’s Thompson also stated

“The good news is that we have continued to perform very well, and that sets the bar high. As I have always told you, performance is our best defense. And performance has worked for five years.”

Sounds like Hertz must be very close to receiving FTC approval, which has cost them a pretty penny to achieve, cash that cannot be easily be written off.

I can see Hertz coming back with a strong offer that may test Dollar’s plans for 2012.

As always I will keep you updated.



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