TULSA, Okla., May 9 (UPI) -- Hertz's offer to buy U.S. rental rival Dollar-Thrifty is under board consideration, Dollar Thrifty officials said Monday.
Hertz Global Holdings offered to acquire all of outstanding shares of common stock of Dollar Thrifty for $72 per Dollar Thrifty share, comprised of $57.60 in cash and 0.8546 shares of Hertz common stock, Dollar Thrifty officials said in a release.
Dollar Thrifty Automotive Group, based in Tulsa, Okla., is the parent company of Dollar Rent-a-car and Thrifty Car Rental, with more than 600 corporate and franchised locations in the United States and Canada.
Hertz is the world's largest general-use car rental brand, the company's Web site said. It operates from about 8,500 locations in 146 countries worldwide.
"Dollar Thrifty's board of directors will review and consider Hertz's offer and related statements in accordance with its fiduciary duties to shareholders, and will have no further comment on this matter at this time," the company said in its statement.
