BLBG:Dollar Thrifty Ends Sale Process to Continue Independently Without Hertz
Dollar Thrifty Automotive Group Inc (DTG).31 has ended its sale process, saying Hertz Global Holdings Inc. (HTZ)’s bid didn’t meet the board’s requirements.
“Having received no acceptable offer after conducting an unprecedentedly open process with clearly articulated requirements, it is time for us to move forward on a stand-alone basis,” Dollar Thrifty Chief Executive Officer Scott Thompson said in a statement.
Hertz has been seeking U.S. Federal Trade Commission approval to buy Dollar Thrifty, the fourth-largest U.S. rental- car chain. Hertz is trying to divest its Advantage brand to help smooth that approval.
To contact the reporter on this story: Mark Clothier in Southfield, Michigan at mclothier@bloomberg.net
To contact the editor responsible for this story: Jamie Butters at jbutters@bloomberg.net
