Dollar Shareholders Reject Hertz's $1.45B Bid

Law360, New York (September 30, 2010, 6:53 PM EDT) -- Dollar Thrifty Automotive Group Inc. shareholders balked at a $1.45 billion takeover bid from Hertz Global Holdings Inc. on Thursday, just after rival suitor Avis Budget Group Inc. bumped its own offer to $1.52 billion amid antitrust concerns.

During a special meeting Thursday, shareholders voted 11.8 million shares in favor of the Hertz offer compared with 13.8 million shares against it, Dollar Thrifty said in a statement.

“We respect the vote of our shareholders and remain confident in our ability to continue to deliver outstanding value...
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