Hertz, the car rental company, announced today that it has entered into an agreement to purchase its rival Dollar Thrifty, for approximately $2.3 billion. Hertz will pay $87.50 per share.
The combination of Hertz and Dollar Thrifty will create a global, multi-brand rental car leader offering customers a full range of rental options through its strong premium and value brands.
A joint statement said, the boards of directors of both companies had unanimously approved the transaction.
