Hertz Drops Dollar Thrifty Offer, Vows To Keep Trying

Law360, New York (October 27, 2011, 12:04 PM EDT) -- Hertz Global Holdings Inc. has withdrawn its exchange offer for shares of car-rental rival Dollar Thrifty Automotive Group Inc., but it pledged to continue pursuing antitrust clearance for its takeover proposal, the company said Thursday.

Earlier this month, Dollar said it had removed itself from the auction block after its suitors — Hertz and Avis Budget Group Inc. — failed to come up with offers it felt were suitable and would survive antitrust scrutiny. However, at the time, Hertz said it would continue working with the...
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