Car rental company Hertz (NYSE:HTZ) has extended the expiration deadline for its exchange offer for all outstanding shares of Dollar Thrifty Automotive Group (DTG).
Hertz and Avis Budget Group (NASDAQ:CAR) have been vying to acquire Dollar Thrifty, which has been working with both companies to obtain regulatory clearance for each deal.
Hertz' previous exchange offer, of $57.60 in cash and 0.8546 shares of Hertz common stock per Dollar Thrifty share, was due to expire on September 9. Only about 2.6 million shares had been tendered at the close of business on September 9, just hours before the expirations.
The news exchange offer will expire at midnight Eastern time on November 1.
Hertz said its offer remains unchanged, and it continues to pursue obtaining clearance from the Federal Trade Commission for the transaction.
A bevy of Wall Street firms have been advising Hertz on the long-running deal process. Barclays Capital (NYSE:BCS), Lazard (NYSE:LAZ), Bank of America (NYSE:BAC) and Deutsche Bank (NYSE:DB) are all serving financial advisors to Hertz.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
VF is about the atypical investments that the majority
Launch related slideshow:
Friday 5/17 Insider Buying Report: CONE, ERII
Friday 5/17 Insider Buying Report: WFR, VSTM
Thursday 5/16 Insider Buying Report: SIX, MRIN
Daily Wrap: May 17, 2013
Donaldson Shares Slip On Lowered Guidance
Daily Wrap: May 16, 2013
Analyst Moves: AMAT, ARUN, DE
Analyst Moves: NOC, GM, GILD
Analyst Moves: WSM, LTD, ADSK
Friday Sector Leaders: Education & Training Services, Auto Parts
Friday Sector Laggards: Precious Metals, Rental, Royalty Trusts
Thursday Sector Leaders: Shipping, Education & Training Services
Friday's ETF with Unusual Volume: IYK
Friday's ETF Movers: PSCM, PSAU
HYG, RUSS: Big ETF Outflows
Daily Dividend Report: AET, DV, RWT, BGS, WMB
Daily Dividend Report: SYY, VTR, HIG, ESS, XEC
Daily Dividend Report: COH, STT, WDC, KSS, DPS
Initial Jobless Claims Jump by 32k
Jobless Claims Fall to Five Year Low
Hiring Picture Improves In April
Weekly Market Wrap: May 17, 2013
Weekly Market Wrap: May 10, 2013
Weekly Market Wrap: May 3, 2013
Week Ahead Market Report: May 13, 2013
Week Ahead Market Report: May 6, 2013
Week Ahead Market Report: April 29, 2013