RTRS:Dollar Thrifty says has not received any buyout offers
Aug 1 (Reuters) - Dollar Thrifty Automotive Group, a longstanding takeover target, said it has not received a buyout offer from Hertz Global Holdings Inc or any other company this year.
Dollar Thrifty, seen as the last big prize in the car rental industry, has been subject to several bids from Hertz and Avis Budget Group for more than two years.
Antitrust issues, however, have clouded the process as a takeover would leave just three players dominating more than 90 percent of the U.S. car rental market.
Avis dropped out of the race last year after it bought its European arm for about $1 billion, while Hertz put its offer on hold saying it will wait for antitrust approval before making a final bid.
"It is time for a compelling offer to be made or for this process to come to a close so that the company can move forward under its stand alone plan without the constant distraction of merger speculation," Dollar Thrifty said in a statement on Wednesday.
Hertz said earlier this year that it was close to getting approval having identified a buyer for the assets it needs to sell in order to gain regulatory clearance.
Dollar Thrifty said media reports on possible asset sales by Hertz have caused uncertainty for its employees and business partners, and it has relayed its concerns to senior officials at the Federal Trade Commission.
The car rental company also raised its full-year earnings forecast and reported a better-than-expected quarterly profit.