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Stock Market & Financial Investment News

News Breaks
November 20, 2012
07:02 EDTDTG, HTZHertz Global completes acquisition of Dollar Thrifty
Hertz Global Holdings announced that it has successfully completed its previously announced acquisition of Dollar Thrifty Automotive Group (HTZ). As a result of the transaction, Dollar Thrifty (DTG) has become a wholly owned subsidiary of Hertz. Hertz completed a tender offer in which it purchased approximately 99.6% of the shares of Dollar Thrifty common stock then outstanding at $87.50 per share in cash. Hertz subsequently acquired the remaining shares of Dollar Thrifty common stock by means of a short-form merger in which such shares were converted into the right to receive the same $87.50 per share in cash that will be paid in the tender offer. In order to accomplish the short-form merger, Hertz exercised its "top-up" option to purchase additional shares of Dollar Thrifty common stock directly from Dollar Thrifty. Dollar Thrifty's common stock will no longer be listed on the New York Stock Exchange.
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