Car rental giant Hertz is in the process of purchasing Dollar Thrifty. The deal is said to be for $2.3 billion, according to an Associated Press report. As a result, Dollar Thrifty stock increased by seven percent in trading before the market opened today. According to the report, Hertz has been eying its rental car rival for two years now. Additionally, Avis Budget Group was also interested in purchasing Dollar Thrifty. Hertz made the move, though, at a price of $87.50 per share, representing an eight-percent premium over Friday's closing price for the stock of $81 per share.
In a statement, Hertz Chairman and CEO Mark P.
Autoblog , Hertz pays $2.3B for Dollar Thrifty, Hertz pays $2.3B for Dollar Thrifty
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