HERTZ Global Holdings (HTZ) has completed its acquisition of Dollar Thrifty Automotive Group (DTG).
Dollar Thrifty is now a wholly owned subsidiary of Hertz.
Said Hertz chairman and CEO, Mark P Frissora: “Over the past six years, we have competed successfully with only one global premium brand in place while our competitors have had multiple brands to work against us. We now have two additional popular brands to compete across multiple market segments, with plans to offer them to our many partners and customers.”
Hertz completed the acquisition by purchasing the shares of Dollar Thrifty common stock at US$87.50 per share in cash. Dollar Thrifty’s common stock will no longer be listed on the New York Stock Exchange.
