5:29 p.m. | Updated Shareholders of the Dollar Thrifty Automotive Group rejected on Thursday a nearly $1.5 billion takeover offer from Hertz Global Holdings, and Hertz, as promised, ended the bid, opening the door for the Avis Budget Group to pursue its own higher offer for the company. The defeat for Hertz came a day [...]
Dollar Thrifty Automotive Group on Monday reaffirmed its support for a takeover bid from Hertz Global Holdings, passing on what it described as a more lucrative but riskier offer from the Avis Budget Group. The sticking point, once again, appeared to be Avis’s refusal to match the $44.6 million breakup fee in Hertz’s offer, on [...]
Hertz Global Holdings is standing by its deal to acquire the Dollar Thrifty Automotive Group, even after the Avis Budget Group unveiled on Thursday what it described as a significantly higher offer. Almost two weeks ago, Dollar Thrifty agreed to a revised cash-and-stock merger with Hertz, worth about $1.4 billion as of Thursday’s close. It [...]
6:55 p.m. | Updated Hertz Global Holdings agreed on Sunday to raise its takeover offer for the Dollar Thrifty Automotive Group to about $1.43 billion in stock and cash, trumping a rival offer from the Avis Budget Group. Under the new terms of the deal, Hertz will raise the cash portion of its offer, which [...]
Shareholders opposed to the takeover of the Dollar Thrifty Automotive Group by Hertz Global Holdings have accused Goldman Sachs bankers of working on both sides of the transaction, giving Hertz an edge over a rival bid from the Avis Budget Group, according to a lawsuit filed in Delaware Chancery Court. The lawsuit, which is seeking [...]
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