Citing anonymous sources familiar with the situation, Bloomberg and The Wall Street Journal reported that under the deal being discussed, Hertz would buy its car rental rival for $87.50 a share. That would be an 8% premium to Dollar Thrifty's closing price Friday of $81.
Bloomberg reported that the transaction would be all-cash and valued at about $2.56 billion, based on Dollar Thrifty's latest quarterly filing with regulators.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts