Hertz finally completes Dollar Thrifty deal

Hertz finally completes Dollar Thrifty deal

More than two years after launching its initial bid, Hertz Global Holdings has finally completed the acquisition of Dollar Thrifty Automotive Group.

The news comes just five days after Hertz received Federal Trade Commission approval for the deal.

With the acquisition, Hertz’s United States market share for car rentals rises to 26 per cent from 19 per cent, according to figures from trade publication Auto Rental News.

Enterprise Holdings - parent of Enterprise, National and Alamo - accounts for about half of the US market, with Avis the only other significant player.

Hertz in August agreed to buy Dollar Thrifty for $2.6 billion after a 28-month courtship.

It agreed to sell its Advantage division to Macquarie Capital, which owns Rent-a-Wreck and U-Save Car & Truck Rental, as a condition of the acquisition.