Hertz Ups Dollar Thrifty Bid To $2.25B

Law360, New York (May 9, 2011, 12:40 PM EDT) -- Hertz Global Holdings Inc. on Monday swooped in with an approximately $2.25 billion offer for Dollar Thrifty Automotive Group Inc., as a bid for the budget car rental agency from Avis Budget Group Inc. remains stalled due to antitrust concerns.

The $72-per-share deal, composed of $57.60 in cash and 0.8546 shares of Hertz, will be tendered directly to Dollar Thrifty shareholders and is Hertz's second bid for the discount car rental company, part of a battle with Avis that has lasted for nearly a year. Along...
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