FTC Approves Hertz Acquisition Of Tulsa-Based Dollar Thrifty

Hertz announced Thursday the Federal Trade Commission has issued a final consent order approving the car rental company's $2.3 billion purchase of Dollar Thrifty.

According to a release, Hertz acquired Dollar Thrifty in November 2012 "pursuant to an interim agreement and proposed consent order entered into between the company and the FTC at that time."

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 FTC's announcement comes after Hertz sold its Advantage car rental business to Franchise Services of North America, Inc.

Read Federal Trade Commission news release.

As of May 2013, Dollar Thrifty had 620 employees in Tulsa.

6/10/2013 Related Story: Dollar-Thrifty Confirms Lay-Offs Of Some Tulsa Employees