NEW YORK ( TheStreet) -- Hertz (HTZ) may be set to clear one of the biggest hurdles to a possible acquisition of Dollar Thrifty (DTG), solidifying its position as the nation's second leading car rental chain.
On Thursday, Hertz said that it received approval from the Federal Trade Commission to divest its Advantage brand. The move that may pave the way for an acquisition of Dollar Thrifty, a deal Hertz tried but failed to cut in 2011 and has said it would retry this year.
|An Advantage sale signals a revival of Hertz's interest in Dollar Thrifty|
"We have agreed on the material terms of a divestiture of our Advantage business with a potential buyer and have provided those terms to the FTC staff," said Hertz chief executive Mark Frissora on the company's Thursday earnings conference call, without disclosing the bidder. "We believe we have made substantial progress toward our goal to obtaining antitrust clearance that would allow us to consider the terms on which we might move forward with that acquisition" of Dollar Thrifty, he added.
Already, Hertz had been expected to
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