Hertz Agrees to Buy Donlen While Pursuing Dollar Thrifty |
| Bloomberg - Jul 18, 2011 |
Hertz Global Holdings Inc. (HTZ), awaiting regulatory approval to acquire Dollar Thrifty Automotive Group Inc. (DTG), said it agreed to buy Donlen Corp. for $250 million to expand its car-, truck- and equipment-leasing services.
The transaction also includes the assumption of about $680 million of Donlen’s debt outstanding, for a total value of about $930 million, a Hertz statement issued yesterday said.
Hertz will continue to pursue Dollar Thrifty as it seeks regulatory approval to acquire Donlen, Richard Broome, a Hertz spokesman, said in a telephone interview yesterday. Hertz, the largest publicly traded rental-car company, offered to buy Dollar Thrifty in May.
The deal “doesn’t seem like it would in any way effect” Hertz’s ability to acquire Dollar Thrifty, Fred Lowrance, an analyst for Avondale Partners LLC, wrote in an e-mail.
Read Full Article from Bloomberg
- Posted: 2011-07-18 12:05:00
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