Digital News Report – Hertz Global Holdings, Inc, announced that they will be acquiring Dollar Thrifty Automotive Group with a purchase price of $41 per share, a mix of cash and Hertz common stock which was based on Friday’s closing stock prices.
The two rental car companies, Hertz and Dollar Thrifty will be combined into one corporation. Dollar Thrifty is estimated to be a $1.6 billion business that has over 1,550 corporate and franchise rental facilities worldwide. With the merger, Hertz Global Holdings will have approximately 9,800 corporate and rental location worldwide.
Hertz believes this merger will help compete against other multi-brand car rental companies and will also get a boost because of Dollar Thrifty’s strong international brand recognition.