Jump to content
Sign in to follow this  
NINETY EIGHT REGENCY

Dollar Thrifty rebuffs Avis bid, plans to go ahead with Hertz offer

Recommended Posts

Dollar Thrifty rebuffs Avis bid, plans to go ahead with Hertz offer

TULSA (AP) — Dollar Thrifty Automotive Group (DTG) says it's rebuffing a counteroffer from Avis Budget Group (CAR).

And Dollar Thrifty is going ahead with plans to have shareholders vote on a competing acquisition bid by Hertz Global Holdings (HTZ).

In a Tuesday afternoon letter, Dollar Thrifty says Avis' $1.33 billion offer doesn't satisfy enough requirements for the company to break up its deal with Hertz.

RENTING A CAR IN EUROPE? An automatic might cost extra

Dollar Thrifty shareholders are scheduled to vote on Hertz's $1.17 billion bid in mid-September.

At issue are antitrust concerns. And Dollar Thrifty says its suitor must offer a so-called "reverse breakup fee."

Still, Dollar Thrifty isn't shutting the door.

Executives say they're ready to review modifications Avis Budget has to offer.

link:

http://www.usatoday.com/money/autos/2010-08-03-dollar-thrifty-avis-bid_N.htm

Share this post


Link to post
Share on other sites

Your content will need to be approved by a moderator

Guest
You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoticons maximum are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  



About us

CheersandGears.com - Founded 2001

We  Cars

Get in touch

Follow us

Recent tweets

facebook

×