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Hertz Global Holdings Inc Commences Tender Offer to Acquire Dollar Thrifty Automotive Group Inc


Monday, 10 Sep 2012 06:00am EDT 

Hertz Global Holdings Inc announced that it has commenced a cash tender offer to purchase all outstanding shares of common stock of Dollar Thrifty Automotive Group Inc Hertz and Dollar Thrifty have entered into a definitive merger agreement under which Hertz would acquire Dollar Thrifty for $87.50 per share in cash in a transaction valued at a corporate enterprise value of approximately $2.3 billion. Upon the closing of the tender offer, stockholders of Dollar Thrifty will receive $87.50 per share in cash for each share of Dollar Thrifty common stock validly tendered and not validly withdrawn in the offer, without interest and less any applicable withholding taxes. Lazard, Barclays, Bank of America Merrill Lynch and Deutsche Bank are acting as financial advisors to Hertz. Barclays will serve as dealer manager for the tender offer. Barclays, Bank of America Merrill Lynch and Deutsche Bank will provide financing for the transaction. Cravath, Swaine & Moore LLP, Debevoise & Plimpton LLP and Jones Day are acting as legal advisors to Hertz. J.P.Morgan and Goldman, Sachs & Co. are acting as financial advisors to Dollar Thrifty. Cleary Gottlieb Steen & Hamilton LLP is acting as legal advisor to Dollar Thrifty. 

Company Quote

28.29
-0.38 -1.33%
31 Jul 2014