Hertz has announced the Federal Trade Commission has issued a final consent order regarding its acquisition of Dollar Thrifty Automotive Group. Hertz acquired Dollar Thrifty in November 2012 pursuant to an interim agreement and proposed consent order entered into between the company and the FTC at that time.
Bringing to an end one of the more protracted takeover sagas of recent times, Hertz has completed its acquisition of rival Dollar Thrifty. The $2,3 billion deal follows a recent plea from Dollar Thrifty for an end to the merger process, which has rumbled on for nearly two years.
Dollar Thrifty Automotive Group announced that it anticipates significant cost savings for its customers based on the improved fuel efficiency of the rental cars in the Company’s 2012 fleet purchase. As a part of the latest fleet purchase, 67 percent of the vehicles have a highway fuel-efficiency rating of 30 miles per gallon (mpg) or better. Additionally, 98 percent of Dollar Thrifty’s general car models achieve 28 highway mpg or better.