Report: Avis Expected To Top Hertz Bid For Tulsa-Based Dollar Thrifty

Wednesday, July 21st 2010, 6:05 pm
By: News On 6

UNDATED, OK – CNBC reported Wednesday that Avis Budget Group is expected to top Hertz $1.2 billion bid for Tulsa-based Dollar Thrifty Automotive Group.

The bid could come as early as Thursday.

Hertz, headquartered in New Jersey, made the proposal to buyout the Tulsa-based company in late April. The deal would give Hertz an additional 1,550 locations.

"The combination of Dollar Thrifty with a larger company like Hertz will provide Dollar Thrifty with greater resources and the technology needed to expand our value focused leisure brands. We see the combination of our brands with Hertz's brands as very compelling," Scott Thompson, Dollar Thrifty's Chief Executive Officer, said at the time.

4/26/2010 Related Story: No Word On Future Of Dollar Thrifty Jobs In Tulsa After Purchase By Hertz

Shares for Dollar Thrifty, which employs about 700 workers in Tulsa, rose 88 cents to $46.98 Thursday following CNBC's report.

Any deal would require federal approval.