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Merger talks between Hertz, Dollar Thrifty
Merger talks were in the home stretch Sunday for rental car giants Hertz Global Holdings and Dollar Thrifty Group Inc., sources told The Wall Street Journal.
The sources said a deal was near on the Hertz acquisition, which would see it paying $87.50 a share, or around $2.5 billion.
Dollar Thrifty’s shares closed Friday at $81 per share.
The Hertz attempt at a buy-out began more than two years ago and has been dogged by price haggling and regulatory log-jams, the Journal said.
The Avis Budget Group also set its sights on Dollar Thrifty, but eased off when it bought out the Avis operations in Europe, the report said.
Results of the two-board meeting were expected late Sunday or Monday, sources told the newspaper.
Copyright 2012 by United Press International