WASHINGTON (dpa-AFX) - Hertz Global Holdings, Inc. (HTZ) announced that it has extended the expiration date of its exchange offer for all outstanding shares of Dollar Thrifty Automotive Group Inc. (DTG) to November 1, 2011 from September 9, 2011.
On May 9, 2011, Hertz made an exchange offer, which consists of $57.60 in cash and 0.8546 shares of Hertz, for all outstanding shares of Dollar Thrifty. The total value of the $72 per share bid is around $2.36 billion
Hertz noted that except for the extension of the exchange offer expiration date, all other terms and conditions of the exchange offer remain unchanged.
Hertz added that it continues to pursue its immediate goal of obtaining FTC clearance for the proposed transaction with Dollar Thrifty. As of the close of business on September 9, 2011, about 2.62 million shares of Dollar Thrifty common stock had been tendered into and not withdrawn from the exchange offer.
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