Local & Regional
Wed September 29, 2010
Dollar Thrifty Update
By Associated Press
Tulsa, OK – 2 auto rental giants still seeking Tulsa firm
TULSA, Okla. (AP) The board of Tulsa-based Dollar Thrifty Automotive Group is still urging stockholders to approve an offer by Hertz Global Holdings for all the stock in Dollar Thrifty.
A stockholder vote on the offer is set for Thursday, despite a request on Monday by Avis Burdget Group to put off the vote until Dec. 30. Avis has also made an offer for Dollar Thrifty's stock.
Hertz' package totals about $1.45 billion, while the Avis bid is estimated at $1.52 billion. However, Dollar Thrifty officials have said they are not sure that Avis could carry out the transaction in timely fashion.
Copyright 2010 The Associated Press.