On Monday, Park Ridge, New Jersey-based Hertz also said it has agreed to sell Advantage, which cater

Hertz Global Holdings ( HTZ.N ) agreed to buy rival Dollar Thrifty Automotive Group ( DTG.N ) for about $2.56 billion in a deal that puts about 95 percent of the U.S. car rental market in the hands of three companies.
With the long coveted acquisition of fourth-ranked Dollar Thrifty, Hertz would further cement its lead over Avis while narrowing the gap with market leader Enterprise Holdings, hotels at pearson airport toronto which owns Enterprise along with the Alamo and National brands.
Past takeover talks were stalled in part by price and in part by uncertainty over the companies ability to win antitrust approval of a merger, but Hertz expressed confidence that it would win antitrust approval by mid-October, with a concrete plan to sell its discount brand Advantage.
On Monday, Park Ridge, New Jersey-based Hertz also said it has agreed to sell Advantage, which caters to the same market as Dollar Thrifty, to Franchise Services hotels at pearson airport toronto of North America ( FSN.V ) and Macquarie Capital.
Underscoring the level of confidence hotels at pearson airport toronto by both companies that the deal will clinch regulatory blessing, neither break-up fees nor reverse break-up fees are payable if the transaction fails, people familiar with the matter said.
We are going to go from having 17-18 percent share of the total market to 24 percent. There is still 20-30 percent of the market that ll still be controlled by regional players, Frissora told Reuters, referring to the U.S. airport rental market share.
We are pleased to have finally reached an agreement with Dollar hotels at pearson airport toronto Thrifty after a lengthy — but worthwhile hotels at pearson airport toronto — pursuit, he said earlier in a statement. We have always believed that a combination with Dollar Thrifty is the best strategic option for both companies.
Dollar hotels at pearson airport toronto Thrifty is allowed to solicit a superior proposal for 30 days, according to the people familiar with the matter. But analysts played down the prospect of another round in the takeover wrangling.
Barclays will also serve as dealer manager for the cash tender offer and has committed to a $1.95 billion bridge financing facility to support the transaction, along with Bank of America and Deutsche Bank.