Hertz extends tender offer for Dollar Thrifty again
BY Staff Reports
Monday, October 22, 2012
10/22/12 at 11:29 AM
Hertz Global Holdings Inc., the nation's second largest rental car company, is extending the expiration date again of its cash tender offer to purchase the outstanding shares of Tulsa-based Dollar Thrifty Automotive Group Inc.
In documents filed Monday with the Securities and Exchange Commission, Hertz said the tender offer is now scheduled to expire at 4 p.m. CDT Nov. 5 unless it is extended further. The tender offer was previously scheduled to expire Monday.
This is the second time Hertz has extended the offer. The company still has not had the deal approved by the Federal Trade Commission, which may be slowing investors who are considering whether to tender their shares.
In August, Hertz offered $2.3 billion, or $87.50 per share, for all outstanding shares of Dollar Thrifty common stock. The offer was approved by both companies' boards.
Dollar Thrifty, the nation's fourth largest rental car operator, employs 780 people in Tulsa.
Hertz has 24,000 employees, including 1,700 at a regional center in Oklahoma City.
A sign advertises for the Hertz car rental company at Tulsa International Airport on Aug. 27. MATT BARNARD/Tulsa World File