CHICAGO: Hertz Global Holdings is nearing an agreement to acquire Dollar Thrifty Automotive Group for around $2.5 billion and could announce a deal in coming days, a source familiar with the matter said on Saturday.
The deal would be for nearly $2.5 billion, the source said, but discussions between the two companies are ongoing and could still fall apart.
Under the terms of the deal, Hertz could buy Dollar Thrifty for $87.50 per share, the source said.
News of the deal discussions were earlier reported by Bloomberg and New York Times.
Dollar Thrifty is the last big prize in an industry that has consolidated rapidly in recent years.
A purchase by Hertz would leave it, Avis Budget Group Inc and privately held Enterprise Holdings controlling about 95 per cent of the US car rental market.
Dollar Thrifty earlier this month urged Hertz to put an end to the years of fruitless takeover offers by making a compelling bid to settle the matter.
Park Ridge, New Jersey-based Hertz has said earlier that it was looking to get antitrust approval from the US Federal Trade Commission before making an offer for Dollar Thrifty.
indiatimes.com
The deal would be for nearly $2.5 billion, the source said, but discussions between the two companies are ongoing and could still fall apart.
Under the terms of the deal, Hertz could buy Dollar Thrifty for $87.50 per share, the source said.
News of the deal discussions were earlier reported by Bloomberg and New York Times.
Dollar Thrifty is the last big prize in an industry that has consolidated rapidly in recent years.
A purchase by Hertz would leave it, Avis Budget Group Inc and privately held Enterprise Holdings controlling about 95 per cent of the US car rental market.
Dollar Thrifty earlier this month urged Hertz to put an end to the years of fruitless takeover offers by making a compelling bid to settle the matter.
Park Ridge, New Jersey-based Hertz has said earlier that it was looking to get antitrust approval from the US Federal Trade Commission before making an offer for Dollar Thrifty.
indiatimes.com
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