Hertz Says It Is Still Working To Acquire Tulsa-Based Dollar Thrifty

NewsOn6.com

TULSA, Oklahoma -- Rental car company Hertz Global Holdings says it will acquire a Illinois based fleet leasing firm Donlen Corporation for $250 million.

The deal includes the assumption of about $680 million in Donlen's outstanding debt.

Hertz also says it will continue to pursue the purchase of Dollar Thrifty while it awaits regulatory approval to acquire Dollar Thrifty.

Hertz announced in May it was once again trying to purchase the Tulsa based firm.

On July 11, 2011, Hertz extended its $70.97 a share offer for Dollar Thrifty to August 5, 2011.

The Hertz offer is valued at $2.05 billion.

Dollar Thrifty is scheduled to announce second quarter 2011 financial results prior to the markets opening on August 8, 2011.

5/25/2011 Related Story: Share Price Of Tulsa-Based Dollar Thrifty On The Rise