Bringing to an end one of the more protracted takeover sagas of recent times, Hertz has completed its acquisition of rival Dollar Thrifty.
The deal follows a recent plea from Dollar Thrifty for an end to the merger process, which has rumbled on for nearly two years.
Hertz will pay $87.50 a share for the company valuing the company ay $2.3 billion; more than double the price it first offered two years ago.
The deal closes a five year chase for Hertz chief Mark Frissora and is expected to be the last major consolidation permitted by regulators in the United States.
Rival Avis had previously been keen to acquire Dollar Thrifty, but was outbid by Hertz. Continue reading