Hertz Global Holding, a car rental company based in the United States, is close to terms to acquire Dollar Thrifty, one of its rival companies, Reuters reported.
Hertz is expected to acquire the rental car company for around $2.5 billion, according to source familiar with the deal, the source reported. The acquisition would end years of competition between the two rental car companies.
Reuters reported that its sources said Hertz will purchase Dollar Thrifty for $87.50 per share. Hertz is the No. 2 car rental company in the United States and has tried to acquire Dollar Thrifty before, along with third-ranked Avis, but the deals fell through as a result of disagreements over price and it being unlikely that its larger rivals would be able to get clearance for the merger.
Following the proposed acquisition, Hertz, Avis Budget and privately-held Enterprise Holdings, which is the No. 1 car rental company in the country, will control an estimated 95 percent of the car rental market in the United States.
U.S. futures recently increased, gaining 1.8 percent in the market, following the announcement that the company would possibly acquire Dollar Thrifty.
Hertz is expected to acquire the rental car company for around $2.5 billion, according to source familiar with the deal, the source reported. The acquisition would end years of competition between the two rental car companies.
Reuters reported that its sources said Hertz will purchase Dollar Thrifty for $87.50 per share. Hertz is the No. 2 car rental company in the United States and has tried to acquire Dollar Thrifty before, along with third-ranked Avis, but the deals fell through as a result of disagreements over price and it being unlikely that its larger rivals would be able to get clearance for the merger.
Following the proposed acquisition, Hertz, Avis Budget and privately-held Enterprise Holdings, which is the No. 1 car rental company in the country, will control an estimated 95 percent of the car rental market in the United States.
U.S. futures recently increased, gaining 1.8 percent in the market, following the announcement that the company would possibly acquire Dollar Thrifty.
Post A Comment:
0 comments so far,add yours