Following a long bidding war in which Avis Budget Group (NASDAQ:CAR) and Hertz (NYSE:HTZ) competed to acquire Dollar Thrifty Automotive Group (DTG), Dollar Thrifty has opted to go it alone.
The car rental firm said today that ñ following a process in which it asked for the best and final definitive proposals from would-be buyers - it did not receive any proposals that did not eliminate antitrust regulatory risk.
So, the firm said it has terminated its solicitation process, and will continue to execute its current stand-alone plan.
Dollar Thrifty also confirmed its plans to commence a $400 million stock repurchase program following its third quarter earnings call on November 1.
Dollar Thrifty reiterated its expectation for a rental revenue increase of 2% in the third quarter, and said it is on track for another record year.
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