Dollar Thrifty, Vanguard in Early Merger Talks

February 14, 2007

Dollar Thrifty Automotive Group Inc. is in talks to merge with Vanguard Car Rental, owner of the National and Alamo chains, the New York Times reported on Wednesday.
The negotiations have been taking place on and off for several months and may still collapse.

If completed, a deal would create the third-largest rental car company in the United States behind Enterprise Rent-a-Car and Hertz Global Holdings Inc., but outpacing Avis Budget Group Inc. in terms of revenue, the paper said.

A deal with Vanguard would most likely be a reverse takeover, so that Vanguard would be the controlling shareholder, according to the Times. Dollar Thrifty and Vanguard were not immediately available to comment.