Hertz Gains SEC Approval to Acquire DTAG
PARK RIDGE, N.J. — Hertz Global Holdings got the green light Tuesday from the Securities and Exchange Commission to purchase Dollar Thrifty Automotive Group. The SEC signed off on the company's registration statement.
And now Dollar Thrifty is seeking the go-ahead vote from its stockholders when they have a special meeting on Sept. 16.
Dollar Thrifty began sending the proxy statement/prospectus included in the registration statement to its stockholders on Tuesday.
"(Tuesday's) mailing by Dollar Thrifty represents the next step in achieving the agreed upon merger of Hertz and Dollar Thrifty which we look forward to completing in the near future," stated Mark Frissora, Hertz chairman and chief executive officer.
"Dollar Thrifty's well-established presence in the value leisure segment of the U.S. airport car rental market, as well as other key international markets, complements Hertz's global presence in the business and premium leisure car rental segments," he added.
Dollar Thrifty Increases International Web Presence
In other news from Dollar Thrifty, subsidiaries Dollar Rent A Car and Thrifty Car Rental are aiming to boost their online presence throughout the world with a deal they struck with CarTrawler, a car-rental technology company based in Ireland.
Basically, CarTrawler will help these brands offer more websites for specific countries or regions across the globe. For instance, new and enhanced versions of Prepaid.Thrifty.co.uk and Dollar.co.uk built through CarTrawler are available already.
Among the things in store for the Dollar Thrifty and CarTrawler partnership are revamped websites for Dollar and Thrifty in Latin America and Canada. These re-launches are likely to happen before 2010 ends.
This partnership allows Dollar and Thrifty to provide international customers with websites designed specifically for their respective countries and in their respective languages. They also allow customers to pay fully in advance for rentals and market-specific products using their respective country's currency.
"We're delighted to have been chosen by Dollar Thrifty Automotive Group as the backbone for its international expansion," stated Mike McGearty, chief operating officer of CarTrawler.
"Dollar and Thrifty customers worldwide will now be able to book in any market, from any country, and in any language using our platform. We believe this partnership confirms our position as a leader in worldwide car rental distribution, and we are deeply honored to become a strategic technology partner for Dollar Thrifty Automotive Group," he added.
Scott Thompson, president and CEO of Dollar Thrifty, shared: "We are truly excited to join forces with CarTrawler, one of the premier car rental technology companies in the world. We look forward to greatly expanding our worldwide online presence.
"This agreement, over time, will enable us to better maintain a relationship with our international customers and provide exceptional value to these important customers — in their native languages. This is a capability we have needed for a long time and I think this arrangement will pay dividends in the future," he continued.