Feds get more time to review Hertz-Dollar Thrifty deal

By Jerry Limone
Hertz has agreed to give the Federal Trade Commission (FTC) more time to review its $2.6 billion offer to acquire Dollar Thrifty Automotive Group.

Hertz and the FTC had entered into a timing agreement whereby Hertz would not close the transaction prior to 11:59 p.m. on Oct. 31. The term of the timing agreement has been extended to end of day on Nov. 16.

Dollar Thrifty’s board of directors approved the Hertz acquisition in August, but the deal has yet to be approved by federal regulators and Dollar Thrifty’s shareholders.
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