Cravath, Debevoise, and Jones Day are once again advising Hertz, which on Sunday said it has agreed to pay $2.3 billion to acquire its long sought-after rival, Dollar Thrifty. Cleary has advised Dollar Thrifty through a years-long sale process that has included shareholder lawsuits and a rival bid from Avis.
August 27, 2012 at 12:00 AM
1 minute read
After more than two years of negotiations, wooing shareholders, and fending off rivals, Hertz Global Holdings said Sunday it will buy Dollar Thrifty Automotive Group in a deal worth $2.3 billion.
Hertz is paying $87.50 per Dollar Thrifty share in cash under the terms of the agreement, which represents an 8 percent premium over the target’s Friday closing price.
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