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Car rental giant Hertz is in the process of purchasing Dollar Thrifty. The deal is said to be for $2.3 billion, according to an Associated Press report. As a result, Dollar Thrifty stock increased by seven percent in t
Car rental giant Hertz is in the process of purchasing Dollar Thrifty . The deal is said to be for $2.3 billion, according to an Associated Press report. As a result, Dollar Thrifty stock increased by seven percent disney world hotel deals in trading before the market opened disney world hotel deals today.
According to the report, Hertz has been eying its rental car rival for two years now. Additionally, disney world hotel deals Avis Budget Group was also interested in purchasing Dollar disney world hotel deals Thrifty. Hertz made the move, though, disney world hotel deals at a price of $87.50 per share, representing an eight-percent premium over Friday's closing price for the stock of $81 per share.
In a statement, Hertz Chairman and CEO Mark P. Frissora said that the buyout will give his company disney world hotel deals two more well-known brands and make the company more competitive in Europe and other international markets.
While both parties have agreed to the deal, the Federal Trade Commission must approve the acquisition. According to the report, Hertz has maintained an open line of communication with the FTC throughout the process.
Hertz has roughly 8,650 locations of various types in 150 nations throughout the globe. Dollar Thrifty has about 280 locations in the U.S. and Canada and 1,300 franchise locations worldwide. disney world hotel deals The two corporations when combined fulfills Dollar Thrifty President and CEO Scott Thompson's assertion that the "transaction is not only compelling for stockholders, but also will help broaden its reach." In addition, the deal is also projected to save Hertz $160 million each year.
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