Dollar Thrifty Takeover
On April 26, 2010, Hertz (NYSE: HTZ) agreed to acquire Dollar Thrifty Automotive Group Inc. (NYSE: DTG) in a cash and stock deal worth $1.17 billion in cash and stock.
Under the deal, Dollar Thrifty would receive a $6.88 per share cash dividend, $25.92 per share to be paid by Hertz at the closing and 0.6366 share of Hertz stock for each Dollar Thrifty share.
Not to be outdone, Hertz rival Avis Budget (NYSE: CAR) submited its own higher bid for Dollar Thrifty in July.
Avis Budget offered to acquire Dollar Thrifty for $39.25 in cash and 0.6543 shares of Avis Budget stock, which was valued at $46.50 per share at the time of the announcement.
Under the deal, Dollar Thrifty would receive a $6.88 per share cash dividend, $25.92 per share to be paid by Hertz at the closing and 0.6366 share of Hertz stock for each Dollar Thrifty share.
Not to be outdone, Hertz rival Avis Budget (NYSE: CAR) submited its own higher bid for Dollar Thrifty in July.
Avis Budget offered to acquire Dollar Thrifty for $39.25 in cash and 0.6543 shares of Avis Budget stock, which was valued at $46.50 per share at the time of the announcement.
View Older Stories
-
Hertz Withdraws its Exchange Offer to Acquire Dollar Thrifty
-
Morning Movers 09/14: (JAKK) (VRML) (GLCH) (ANW) Higher; (SEED) (COOL) (RAH) Lower
-
Avis (CAR) Won't Pursue Deal with Dollar Thrifty (DTG); Hertz (HTZ) Shares Rise
-
Hertz Global (HTZ) Jumps After Avis Walks On Dollar Thrifty (DTG) Deal
-
Rosenstein's JANA Partners Makes New Bets on Forest Oil (FST) and Sealed Air (SEE); Exits Comcast (CMCSA), Williams Cos (WMB)
-
Hertz (HTZ) Files Notification and Report Under HSR in Proposed Dollar Thrify (DTG) Acquisition
-
Hertz (HTZ) Extends Expiration for Dollar Thrifty (DTG) Tender Offer
-
Morning Movers 06/14: (LMLP) (YUII) (HTHC) (HTZ) Higher; (COOL) (PCRX) (DTG) Lower
-
Dollar Thrifty (DTG) Falls As Avis (CAR) Puts Its Attention on Avis Europe Deal
-
Dollar Thrifty (DTG) Recommends No Action Regarding Hertz Exchange Offer
-
George Soros' Hedge Fund Slashes Stake In Gold ETF (GLD), Raises Stake in Citi (C) and AT&T (T)
-
Barry Rosenstein's JANA Opens New Positions in Pfizer (PFE), McGraw Hill (MHP); Liquidates Stakes in Automakers (GM) (F)
-
Unusual 11 Mid-Day Movers 05/09: (FFHL) (ROSE) (SIHI) Higher; (HW) (LFT) (MOBI) Lower
-
Morning Movers 05/09: (FFHL) (SCEI) (GAIA) (SMI) Higher; (ZRAN) (LFT) (PETS) Lower
-
Notable Mergers and Acquisitions of the Day 05/09: (HTZ)/(DTG) (ALKS)/(ELN) (NVDA)
-
Pre-Open Movers 5/9: (DTG) (BSFT) (ELN) Higher; (ZRAN) (SPLS) (C) Lower
-
Hertz Global (HTZ) Offers to Acquire Dollar Thrifty (DTG) for $72/Share in Cash In Stock
-
Trading Radar for 11/02: Pfizer (PFE), BP Plc (BP), Kellogg (K), Electronic Arts (ERTS), XL Group (XL) Report
-
Cohen's SAC Capital Cuts Stake In Dollar Thrifty (DTG) to 3.5%
-
Hertz Losses Dollar Thrify Deal, Puts Tail Between Legs; Avis Reaffirms Commitment
-
Avis Budget (CAR) Announces Committment to Dollar Thrifty (DTG) Merger; Now Offering $20M Reverse Termination Fee
-
Hertz Global (HTZ) To Refocus on Rent-a-Car, U.S. Airport Business Expansion Following Dollar Thrifty Merger Rejection
-
Dollar Thrifty (DTG) shareholders reject Hertz (HTZ) offer
-
Hertz Global (HTZ) Responds to Avis Budget (CAR) Press Release in Dollar Thrifty (DTG) Takeover: "Nothing New to Offer"
-
Hertz (HTZ) Announces Bid for Dollar Thrifty (DTG) is "Best and Final"
-
Avis (CAR) Raises Cash Portion of Bid for Dollar Thrifty (DTG) from $40.75 to $45.79/Share
-
Notable Mergers and Acquisitions of the Day 09/13: HPQ/ARST, HTZ/DTG, GENZ/LH
-
Dollar Thrifty Agrees To Higher Buyout Offer from Hertz
-
Dollar Thrifty (DTG) Agrees to $50/Share Takeover Offer from Hertz (HTZ)
-
Notable Mergers and Acquisitions of the Day 09/02: PAR/HPQ, BKC, HTZ/DTG/CAR
-
Avis Budget (CAR) Issues Statement with Regards to Dollar Thrifty (DTG) Acquisition; Revises Offer 22% Above Hertz (HTZ)
-
Raised Guidance From Dollar Thrifty (DTG) Could Lead to Raised Offer
