Hertz: M&A With A Brain

The president of PAR, which owns 7.7% of the shares in Dollar Thrifty DTR, told The Wall Street Journal that his fund will vote against a Hertz offer to buy the smaller company. The cash and stock offer is worth about $51 a share. Hertz has said that it will call off the deal if Dollar Thrifty shareholders do not approve it. Avis CAR has made a slightly higher offer for Dollar Thrifty, but that offer is in limbo until a vote by Dollar Thrifty shareholders. Continue reading the article.