Car rental giant Hertz has extended the expiration date of its previously announced cash tender offer to purchase all outstanding shares of common stock of Dollar Thrifty Automotive Group.

The deal is valued at $87.50 per share. 

The tender offer is now scheduled to expire at 17:00, New York City time, on October 22nd, 2012, unless further extended in accordance with the merger agreement and the applicable rules and regulations of the United States Securities and Exchange Commission.

The tender offer was previously scheduled to expire at midnight last Friday.

Except for the extension of the tender offer expiration date, all other terms and conditions of the tender offer remain unchanged.