Hertz Acquisition of Dollar Thrifty
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. The price is more than twice the $41-per-share offer Hertz made in 2010. Hertz agreed to pay $87.50 per Dollar Thrifty share as it looks to complete its two-year pursuit of its smaller rival.
Regulatory Compliance and Market Concerns
In order to address concerns, Hertz offered a section 87B undertaking and proposed amendments to the Licence Agreement that governs the relationship between it and the Australian Thrifty licensee (Kingmill). The ACCC was satisfied that the undertaking provided by Hertz and the Licence Agreement amendments would remedy concerns in the market(s) for airport vehicle rentals by preserving the independence of the Thrifty licensee in Australia.
Thrifty Car Rental and Ownership
Thrifty Car Rental is owned by The Hertz Corporation, along with Hertz Rent A Car and Dollar Rent A Car. Thrifty typically caters to budget travelers.