Hertz gets regulatory green light for Dollar Thrifty deal - Car Rental News
Hertz gets regulatory green light for Dollar Thrifty deal
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Car Rental News - 19/11/2012
Hertz’ acquisition of Dollar Thrifty has been approved by US regulatory authorities.
Hertz’ acquisition of Dollar Thrifty has been approved by US regulatory authorities.
Officials from Hertz Global Holdings announced on Friday that the firm had officially received the nod from the US Federal Trade Commission. The approval was made under special terms, which will require Hertz to sell-off its Advantage Rent a Car brand and part with a number of US airport rental locations.
Mark P. Frissora, chairman and chief executive of Hertz Global Holdings, told the media that his company was “pleased” to be moving forward as a single entity as a result of a “compelling” agreement with the FTC. He added that Hertz was confident that the shareholders, employees and customers of both companies would be happy with the benefits afforded by the merger.
The FTC’s approval marks the end of review by US authorities, according to reports.
Hertz officials said in a statement that the tie-up between Hertz and Dollar Thrifty Automotive will see the creation of a “global, multi-brand” firm that will be able to offer consumers a wide array of rental options through its value and premium names.
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