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Hertz to acquire Dollar Thrifty
Announced earlier today.
Mark P. Frissora, Hertz's Chairman and Chief Executive Officer, said, "Combining Hertz and Dollar Thrifty is an excellent strategic fit. Dollar Thrifty is a $1.6 billion business with more than 1,550 corporate and franchise rental locations worldwide which, when combined with our global network, will serve rental customers on six continents from approximately 9,800 locations. Together we will be able to compete even more effectively and efficiently against other multi-brand car rental companies, offering customers a full range of rental options in the U.S. between the Hertz, Dollar, Thrifty and Advantage brands. Dollar Thrifty also has a strong international presence, complementing our global footprint, which enables us to utilize a recognized brand to accelerate our leisure rental strategy in Europe and other markets. Financially, we believe the deal is attractive, accretive to earnings and structured to maintain Hertz's strong credit profile. We've identified at least $180 million of synergies already, primarily in fleet, IT systems and procurement, enabling our companies to operate at an even lower cost," he added. |
Yea, that consolidation should be a real...
bonus for car rental rates...
NOT |
...And then there was three... :(
What should the new acronym be... HDTAG? |
Originally Posted by beckoa
(Post 13847972)
...And then there was three... :(
What should the new acronym be... HDTAG? HertzDollarThriftyAdvantage EnterpriseAlamoNational AvisBudget This could get bad for consumers... |
Wirelessly posted (beckoa\'s PWP wonderous poster: BlackBerry9000/4.6.0.304 Profile/MIDP-2.0 Configuration/CLDC-1.1 VendorID/102)
Originally Posted by jackal
Originally Posted by beckoa
(Post 13847972)
...And then there was three... :(
What should the new acronym be... HDTAG? HertzDollarThriftyAdvantage EnterpriseAlamoNational AvisBudget This could get bad for consumers... |
Originally Posted by jackal
(Post 13848032)
This does mean there are only three major rental companies left in the U.S.:
HertzDollarThriftyAdvantage EnterpriseAlamoNational AvisBudget This could get bad for consumers... HertzDollarThriftyAdvantageSimplyWheelz |
Originally Posted by blort
(Post 13844046)
Hertz is paying $41 per share. Dollar Thrifty's share price a year ago: $1.99.
I'll probably stop banging my head against the wall around when the Leafs win the Cup again.... :rolleyes: |
Originally Posted by Tuneman1984
(Post 13861822)
In March of 2009 it was even lower, hovering around 60 cents a share. Having not watched Wall Street at that point, I wasn't yet inspired to play with the stock market. I could've easily cobbled together $600 for 1,000 shares back then, and now that I've been unemployed for 9 months selling those 1,000 shares would've come in nice and handy right about now.
I'll probably stop banging my head against the wall around when the Leafs win the Cup again.... :rolleyes: |
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