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Dollar Thrifty Asks Suitors for Best and Final Offers Monday, August 22, 1:00 PM ET
Car rental company Dollar Thrifty Automotive (DTG) has asked potential acquirers Hertz Global Holdings (NYSE:HTZ) and Avis Budget (NASDAQ:CAR) for their best and final offers for a takeover.
Dollar Thrifty sent both companies a letter, asking for a final proposal by early October.
Scott Thompson, CEO of Dollar Thrifty, noted that both suitors have made “substantial” progress with regulatory reviews, and the company’s board has decided now is the time to determine if and on what terms a transaction can be achieved.
Dollar Thrifty’s board believes that at this point, both Hertz and Avis have the information they need to put forward their best and final offers.
JPMorgan (NYSE:JPM) and Goldman Sachs (NYSE:GS) are financial advisors to Dollar Thrifty.
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