Hertz Files Registration Statement with SEC Regarding DTAG Acquisition
PARK RIDGE, N.J. — This week marked another development in the story surrounding the acquisition of Dollar Thrifty Automotive Group, as Hertz Global Holdings filed a registration statement on Form S-4 with the Securities and Exchange Commission.
This news was revealed less than two weeks after the two companies announced that they both filed for antitrust approval with the SEC.
Included in the registration statements announced Wednesday is a preliminary prospective that goes over Hertz's common stock that would be issued to Dollar Thrifty shareholders as part of the merger.
Also included is Dollar Thrifty's proxy statement, which requests that Dollar Thrifty's shareholders adopt the merger agreement.
"The filing of the S-4 registration statement 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," explained Mark Frissora, Hertz's 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.
Hertz announced roughly a month ago its plans to purchase Dollar Thrifty. Since then, there have been numerous twists and turns with regard to rival Avis Budget Group challenging Hertz for the purchase.
Hertz and Dollar Thrifty released an announcement on May 14 regarding their filing for antitrust approval. The day before, Avis Budget Group revealed it has filed for antitrust approval to acquire Dollar Thrifty.
Stay tuned to Auto Remarketing as this story continues to develop.