FTC Gives Hertz Final OK For Dollar Thrifty Buyout - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

FTC Gives Hertz Final OK For Dollar Thrifty Buyout

Posted: Updated:
File Photo File Photo
PARK RIDGE, New Jersey -

The Federal Trade Commission on Thursday issued a final consent order regarding the acquisition by Hertz of fellow rental car company Dollar Thrifty Automotive Group.

Hertz Global Holdings Inc. acquired Tulsa-based Dollar Thrifty for $2.3 billion in November under an interim agreement and consent order. As part of that deal, Hertz sold off its former Advantage car rental business, select airport operations and some other assets.

Read Hertz news release.

"We are pleased that the FTC has officially concluded its review of the Dollar Thrifty transaction," said Mark P. Frissora, Hertz Chairman and Chief Executive Officer. "Throughout this process we have worked closely with the agency, and the result has been a transaction that we believe will benefit our customers and shareholders for years to come."

The terms of the interim agreement were incorporated into the FTC's final consent order with a few minor changes, including a requirement to sell off the Dollar Thrifty location at Reagan National Airport rather than the Advantage desk, as originally expected.

Hertz shares rose 57 cents, or 2.1 percent, to $26.80 in afternoon trading.

Special Features

iPhone App

Get breaking news, weather, sports & video directly on your iPhone.

Politics

Breaking political news & the latest headlines from the state capitol & D.C.

Radars

See where weather is happening using our live interactive radars.

Technology

Spend your money wisely with reviews of new tech gadgets & the latest news in technology.

TV Schedule

Need to know what's on TV? Check out our television schedule.

Live Radar

WARN Interactive
Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Newson6.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2017 KOTV. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.