Dollar Thrifty Takeover
On April 26, 2010, Hertz (NYSE: HTZ) agreed to acquire Dollar Thrifty Automotive Group Inc. (NYSE: DTG) in a cash and stock deal worth $1.17 billion in cash and stock.
Under the deal, Dollar Thrifty would receive a $6.88 per share cash dividend, $25.92 per share to be paid by Hertz at the closing and 0.6366 share of Hertz stock for each Dollar Thrifty share.
Not to be outdone, Hertz rival Avis Budget (NYSE: CAR) submited its own higher bid for Dollar Thrifty in July.
Avis Budget offered to acquire Dollar Thrifty for $39.25 in cash and 0.6543 shares of Avis Budget stock, which was valued at $46.50 per share at the time of the announcement.
Under the deal, Dollar Thrifty would receive a $6.88 per share cash dividend, $25.92 per share to be paid by Hertz at the closing and 0.6366 share of Hertz stock for each Dollar Thrifty share.
Not to be outdone, Hertz rival Avis Budget (NYSE: CAR) submited its own higher bid for Dollar Thrifty in July.
Avis Budget offered to acquire Dollar Thrifty for $39.25 in cash and 0.6543 shares of Avis Budget stock, which was valued at $46.50 per share at the time of the announcement.
View Older Stories View More Recent Stories
-
Hertz Global (HTZ) Comments Following Icahn Stake, Calls for New CEO
-
Deutsche Bank Downgrades Hertz Global (HTZ) to Hold
-
Hertz (HTZ) Sees FY14 Results Well Below Prior Guidance; Announces Director Retirement
-
Hertz Global (HTZ) Q1 Results Likely Below Consensus
-
Notable Mergers and Acquisitions of the Day 03/18: (HTZ) (BRKS)/(MKSI) (ATEC)
-
Hertz Global Holdings (HTZ) Misses Q4 EPS by 6c; Guides Q1, FY14
-
Hertz (HTZ) Approves Spin of Equipment Rental Unit
-
Hertz Global (HTZ) Adopts 'Poison Pill' Provision for One Year
-
Hertz (HTZ) Completes New U.S. Rental Car Securitization Platform
-
Hertz Global (HTZ) Remains Buy at Goldman Sachs
-
Hertz (HTZ) Cuts FY13 Outlook
-
Notable 52-Week Highs and Lows of the Day 07/11: (BPI) (CELG) (ALNY) High; (AMRN) (ALVR) Low
-
Streetinsider.com's Hot Lunchtime Reads 07/11: (HTZ) (GOOG) (JPM) (FIRE)
-
FTC Issues Approval of Hertz (HTZ)-Dollar Thrifty (DTG) Deal
-
Car Rental Stocks Quake; 'Watch Out . . .Here Comes Sir Richard Branson' (HTZ) (CAR)
-
Branson's Virgin eye U.S. car-rental entry by buying Advantage (HTZ) (CAR)
-
Hertz Global Holdings (HTZ) Tops Q1 EPS by 4c; Guides In-Line
-
MKM Partners Pounds Table on Hertz Global (HTZ) Post Q4 and Ahead of Catalyst
-
Wells Fargo Reiterated Outperform on Hertz (HTZ); On-Airport Pricing Strong
-
Hertz (HTZ) Completes Dollar Thrifty (DTG) Acquisition
-
StreetInsider.com Pre-Open Movers 11/16: (PENN) (SHF) (OMX) Higher; (DVAX) (SHLD) (SINA) Lower (more...)
-
StreetInsider.com After-Hours Movers 11/15: (SHF) (ARUN) (GPS) Higher; (DVAX) (SHLD) (SINA) Lower (more...)
-
Hertz Global (HTZ) $2.6B Acquisition of Dollar Thrifty (DTG) Cleared by FTC
-
Avis Budget (CAR) Ramps as FTC Gets Tougher on HTZ/DTG
-
FTC Seeks More Divestitures in Hertz/Dollar Thrifty Deal (HTZ) (DTG) - Bloomberg
-
Hertz (HTZ) Considers Dollar Thrifty (DTG) Split as Critical Vote Looms
-
Hertz Global (HTZ) Extends Timing Agreement with FTC Over Dollar Thrifty (DTG) Deal
-
Hertz Global (HTZ) Announces Aggregate $1.2B Notes Offering
-
Dollar Thrifty (DTG) Says 'Go Shop' Period Ended; Garners Interest, No Bids
-
Hertz (HTZ) Commences $87.50/Share Tender for Dollar Thrifty (DTG)
-
Top 10 News Items 08/27 - 08/31: Apple Prevails in Patent Proceedings; Helicopter Ben Takes Flight; IBM's Big SaaS Acquisition; Draghi Skips Jackson
-
Market Wrap: Apple's Galaxy-Sized Victory; AOL Fires-Up the ATM; Commodities Snub Isaac; Merger Monday!
-
Unusual 11 Mid-Day Movers 08/27: (KNXA) (HCBK) (SRPT) Higher; (PPHM) (GAGA) (DDMG) Lower
-
MKM Partners Reiterates a 'Buy' on Hertz Global (HTZ); Combination Accetive; Deal Positive for CAR Too
-
Notable Mergers and Acquisitions of the Day 08/27: (HCBK)/(MTB) (IBM)/(KNXA) (HTZ)/(DTG) (PROJ)
-
Pre-Open Movers 8/27: (KNXA) (HTZ) (HCBK) Higher; (IDIX) (PANL) (GOOG) Lower (more...)
-
Hertz (HTZ) to Acquire Dollar Thrifty (DTG) for $87.50/Share; Hertz to Divest Advantage Business
-
Hertz (HTZ) Nears Deal to Buy Dollar Thrifty (DTG) for $2.5B, Ending Multi-Year Saga
-
Dollar Thrifty (DTG) Shareholders Want $87/Share or More in a Hertz (HTZ) Takeover
-
Avis Budget (CAR) said to decide against renewing bid for Dollar Thrifty (DTG)
-
Trading Radar for 08/01: MasterCard (MA), Green Mountain (GMCR), Time Warner (TWX), Comcast (CMCSA), MetLife (MET), Avon (AVP)Report
-
Zipcar's (ZIP) Business Model is Too Niche, Investors Should Try Hertz (HTZ) - Cramer
-
Hertz (HTZ), Dollar Thrifty (DTG) Slump Following CNBC Comments
-
Dollar Thrifty (DTG) Shares Spike Higher as Hertz (HTZ) Could Make an Offer
-
Hertz (HTZ) Needs Big Bid, Luck to Land Dollar Thrifty (DTG)
-
Dollar Thrifty (DTG) Shares Higher Despite Oscar Gruss Downgrade
-
Trading Radar for 11/01: Sirius (SIRI), Dollar Thrifty (DTG), Dunkin' (DNKN), Watson Pharma (WPI), Petsmart (PETS) Report
-
Notable Mergers and Acquisitions of the Day 10/27: (HTZ)/(DTG) (SNE) (MANT) (VPHM)
-
Pre-Open Movers 10/27: (MF) (AKAM) (BAC) Higher; (TQNT) (MDR) (SFLY) Lower (more...)
-
Hertz Global (HTZ) Withdrawals Offer for Dollar Thrifty (DTG); Still Seeks Merger

