Hertz News
The Hertz corporation continues to expand in 2010
The Hertz Corporation continues the expansion of Hertz Local Edition, its U.S. off-airport car rental business, with 60 new locations opening during the remainder of year.
Avis raises funds for Dollar Thrifty deal
Avis Budget Group has sold $400 million of debt to part finance its proposed acquisition of rival Dollar Thrifty Automotive Group. The move comes after frontrunner Hertz Global Holding ended takeover discussions with Dollar Thrifty after failing to win shareholder support for the deal in a vote last week.
Dollar Thrifty throws support behind Hertz bid
Car rental giant Dollar Thrifty has offered its support to a $1.46 billion takeover bid from rival Hertz Global Holdings, rejecting a higher bid from Avis Budget Group. Avis raised the value of its offer last week but, crucially, refused to match Hertz’s termination fee.
Avis raises ante in Dollar Thrifty bidding war
Avis Budget Group has raised its offer for car rental firm Dollar Thrifty in an ongoing bidding war with Hertz Global Holdings. The latest offer values Dollar Thrifty at $53 a share, trumping Hertz’s most recent bid which valued its rival at $50.25 a share, or $1.44 billion.
Hertz seals Dollar Thrifty take-over
The board of Dollar Thrifty has accepted a higher offer from car rental giant Hertz. The revised takeover deal is worth about $1.56 billion in stock and cash, and trumps a rival offer from Avis Budget.
Dollar Thrifty raises earnings expectations
Dollar Thrifty has raised its full-year 2010 adjusted earnings expectations, with falling costs cited as a key factor. The car rental giant is presently at the centre of a takeover battle between rivals Hertz and Avis, with the former recently questioning the competition implications of a Dollar deal with the latter.
Hertz wins Dollar Thrifty approval
Car rental giant Hertz has won regulatory approval from the Canadian Competition Bureau for its proposed merger with Dollar Thrifty. However, the deal is still some distance from completion, with rival Avis launching a counter bid last week.
Avis tops Hertz bid for Dollar Thrifty
Avis Budget Group has launched what could become a protracted bidding war for car rental firm Dollar Thrifty with an unsolicited $1.33 billion offer. The figure trumps a $1.2 billion cash and shares offer made by rival Hertz earlier this year.
Dutch Hertz Holdings to make private offering
Hertz Global Holdings has announced that Hertz Holdings Netherlands B.V., a private company with limited liability incorporated under the laws of The Netherlands, intends to make a private offering of approximately EUR 275 million Senior Secured Notes.
Hertz announces pricing of $184.3 Million term asset-backed notes
Hertz Global Holdings, Inc. announced today that its subsidiary Hertz Vehicle Financing LLC, a special purpose limited liability company of which The Hertz Corporation (a wholly-owned subsidiary of the Company) is the sole member
Hertz Rent2Buy brings car listings to AutoTrader.com
Hertz Rent2Buy, The Hertz Corporation’s online car sales program, has partnered with AutoTrader.com, the ultimate automotive marketplace, to bring Hertz’s range of used vehicles to the Internet’s leading online classifieds site.
Hertz files registration statement as next step to acquire Dollar Thrifty
Hertz Global Holdings, Inc. (“Hertz”) announced today that it has filed a registration statement on Form S-4 with the Securities and Exchange Commission pursuant to its previously announced merger agreement with Dollar Thrifty Automotive Group, Inc. (“Dollar Thrifty”).