FTC gives Hertz final OK for Dollar Thrifty buyout

June 24th, 2015 1:37 pm

First Posted: 7/11/2013

(AP) The Federal Trade Commission on Thursday issued a final consent order regarding the acquisition by Hertz of fellow rental car company Dollar Thrifty Automotive Group.

Hertz Global Holdings Inc. acquired Tulsa-based Dollar Thrifty for $2.3 billion in November under an interim agreement and consent order. As part of that deal, Hertz sold off its former Advantage car rental business, select airport operations and some other assets.

The terms of the interim agreement were incorporated into the FTC's final consent order with a few minor changes, including a requirement to sell off the Dollar Thrifty location at Reagan National Airport rather than the Advantage desk, as originally expected.

Hertz shares rose 57 cents, or 2.1 percent, to $26.80 in afternoon trading.

Associated Press