May 9, 2011 – (Reuters) - Hertz Global Holdings Inc <HTZ.N> made another bid for Dollar Thrifty <DTG.N> at $2.08 billion, more than a year after making its first bid for the smaller car rental company, saying a rival bid by Avis Budget <CAR.O> will not get antitrust clearance.
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Hertz offered $72 a share, a 3 percent premium to Dollar Thrifty's last closing price on Friday. The offer consists of $57.60 in cash and 0.8546 shares of Hertz.
Hertz said it has engaged in discussions with the U.S. Federal Trade Commission and has commenced a process for the divestiture of its Advantage brand.
"Avis Budget has been unable to produce a viable antitrust remedy, despite an entire year of discussions with the FTC with no end in sight," Hertz said in a statement.
(Reporting by A. Ananthalakshmi in Bangalore; Editing by Maju Samuel)