Hertz reaches 'material agreement' to divest Advantage

Discussion in 'Hertz | #1 Awards/#1 Club' started by sobore, May 4, 2012.  |  Print Topic

  1. sobore
    Original Member

    sobore Gold Member

    Likes Received:
    Status Points:

    Hertz Global Holdings Inc., which has been trying to acquire Tulsa-based Dollar Thrifty Automotive Group Inc. for more than two years, said Thursday it reached a "material agreement" to divest its Advantage rental-car brand.

    Selling Advantage is a key step toward getting antitrust clearance for a Dollar Thrifty acquisition, analysts have said.

    "We have agreed on the material terms of a divestiture of our Advantage business with a potential buyer and have provided those terms to" the U.S. Federal Trade Commission, Hertz CEO Mark Frissora said on a conference call Thursday.
    Dollar Thrifty, which employs about 700 in Tulsa, has been the subject of takeover interest for several years.

    Scott Thompson, CEO of Dollar Thrifty, said the company would deal with a Hertz offer "if and when" anything materialized.

    Read more from this Tulsa World article at http://www.tulsaworld.com/business/article.aspx?subjectid=509&articleid=20120504_54_E1_HertzG616338
    perryplatypus and uggboy like this.

Share This Page