Hertz To Pay $2.3B For Thrifty After Lengthy Chase

Law360, New York (August 27, 2012, 5:23 PM EDT) -- Hertz Global Holdings Inc. has agreed to buy rival Dollar Thrifty Automotive Group Inc. for $2.3 billion, capping off a yearslong pursuit of its rival previously thwarted by antitrust concerns, the companies confirmed late Sunday.

The $87.50 per share sale unanimously approved by both companies' boards comes after Dollar Thrifty saw prospective deals with Hertz and another bidder, rental car powerhouse Avis Budget Group Inc., fall apart when the would-be buyers' proposals failed to convince Dollar Thrifty shareholders that they would withstand the scrutiny of antitrust...
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