Hertz Gives Up Advantage To Close Dollar Thrifty Deal
Hertz Global Holdings' (HTZ) $2.56 billion takeover of Dollar Thrifty Automotive (DTG) got a green light from regulators, putting Hertz in position to be the largest publicly traded U.S. car rental company. The Federal Trade Commission approved the deal by a 4-1 vote, ending Hertz' multiyear takeover battle with arch-rival Avis Budget Group (CAR), the No. 2 publicly held vehicle rental company. Privately held Enterprise is the biggest by revenue.