The car rental brands Dollar and Thrifty, both part of Hertz Corporation, have opened 29 branches across Italy, replacing existing locations operated by a former licensee. The new airport and downtown branches have opened in Italy’s most important cities including Rome, Milan, Venice and Naples. In these and other major tourist destinations across the country, car rental customers with value oriented requirements will benefit from a larger, modern fleet and attractive offers.
Dollar Thrifty Automotive Group, part of The Hertz Corporation, has expanded its existing network in Germany with 116 additional locations throughout the country. The new branches began operating in major German destinations as of this month. Dollar Thrifty has expanded its existing network in Germany with 116 additional locations throughout the country.
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.
Car rental giant Hertz has begun a cash tender offer to acquire the remaining common stock in takeover target Dollar Thrifty. Under a deal reached last month, Hertz will purchase Dollar Thrifty for $87.50 per share in cash in a transaction valued at $2.3 billion.
Dollar Thrifty has issued a call to potential merger partners to cement offers for the firm as it releases its latest financial results. The car rental giant made $49.4 million in net profit in the second quarter, up 16.2 per cent year-on-year.
Hertz Global has announced it is withdrawing its exchange offer for all outstanding shares of Dollar Thrifty Automotive Group. The car rental giant decided to withdraw its exchange offer at this time in light of Dollar Thrifty’s plan to commence its announced share repurchase program and current market conditions.
Dollar Thrifty Automotive Group has official announced it has taken itself off the market after failing to attract what it viewed as suitable takeover proposals. As a result, the company will continue to act as a standalone brand – at least for now.
Avis Budget Group is dropping its year-long pursuit to acquire Dollar Thrifty Automotive Group, according to reports.
Dollar Thrifty has sent a letter to both Hertz Global Holdings and Avis Budget Group seeking “best and final” merger proposals. Dollar Thrifty has stipulated a deadline of October for submissions.
Dollar Thrifty Automotive Group has seen earnings increase in the second quarter or financial 2011, prompting the car rental giant to increase its full-year expectations. The company reported a profit of $42.5 million, or $1.36 a share, for the three months ended June 30th, up from $42.3 million, or $1.40 cents, a year earlier.
Dollar Thrifty has advised shareholders not to tender their shares to Hertz Global Holdings, as an offer of $72 a share undervalues the company. The car rental organisation is presently being sought by two larger rivals, Hertz and competitor Avis.