Judge Won't Block $1.2B Dollar Thrifty-Hertz Deal

Law360, New York (September 9, 2010, 5:17 PM EDT) -- A judge has refused to block a proposed $1.2 billion merger between Dollar Thrifty Automotive Group Inc. and fellow car rental company Hertz Global Holdings Inc., saying the Dollar Thrifty board acted reasonably even though Avis Budget Group Inc. made a higher offer.

Vice Chancellor Leo E. Strine Jr. of the Delaware Chancery Court ruled Wednesday that despite skillful advocacy on the part of a putative class of Dollar Thrifty shareholders, the record did not support its claim that the board likely breached its fiduciary duty....
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