Debevoise, Jones Day Rep Hertz In $1.2B Acquisition

Law360, New York (April 26, 2010, 1:30 PM EDT) -- Hertz Global Holdings Inc. has reached a deal to acquire fellow car rental company Dollar Thrifty Automotive Group Inc. in a cash-and-stock deal valued at approximately $1.2 billion.

Under the terms of the deal, Dollar Thrifty is valued at $41 per share, the companies announced in a statement Sunday. The share purchase price consists of 80 percent cash and 20 percent Hertz stock, and represents a 19 percent premium to the 30-day average closing price of Dollar Thrifty's common stock.

Once the transaction closes, Dollar Thrifty...
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