Hertz Global Holdings Inc. (HTZ) announced it has commenced a cash tender offer to purchase all outstanding shares of common stock of Dollar Thrifty Automotive Group Inc. (DTG). Upon the successful closing of the tender offer, stockholders of Dollar Thrifty will receive $87.50 per share in cash for each share of Dollar Thrifty common stock validly tendered and not validly withdrawn in the offer, without interest and less any applicable withholding taxes.
Hertz will file on September 10 with the U.S. SEC a tender offer statement on Schedule TO which sets forth in detail the terms of the tender offer. The tender offer will expire at 12:00 midnight, New York City time, on October 5, 2012 unless extended in accordance with the merger agreement.
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