This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Dollar Thrifty Automotive Group Announces End Of "Go-Shop" Period

Stocks in this article: DTGHTZ





TULSA, Okla., Sept. 26, 2012 /PRNewswire/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced the expiration of the "go-shop" period established pursuant to the terms of its previously announced merger agreement, dated as of August 26, 2012, with Hertz Global Holdings, Inc. (NYSE: HTZ). The "go-shop" period expired at 11:59 p.m., New York City time, on September 25, 2012. During the "go-shop" period, Dollar Thrifty's financial advisors solicited inquiries from third parties relating to competing acquisition proposals as envisaged by the merger agreement. Notwithstanding such solicitation, no party submitted a proposal to acquire Dollar Thrifty during the "go-shop" period.

(Logo: http://photos.prnewswire.com/prnh/20020412/DTGLOGO)

As previously announced, HDTMS, Inc., an affiliate of Hertz, commenced a tender offer on September 10, 2012 for all of the outstanding shares of common stock of Dollar Thrifty at a price of $87.50 per share, net to the seller in cash, without interest and less any required withholding taxes. The tender offer is being made pursuant to an offer to purchase and a related letter of transmittal, each dated September 10, 2012, and the previously announced merger agreement. Subject to the terms and conditions of the merger agreement, following consummation of the tender offer and subject to the approval of Dollar Thrifty's stockholders if required by applicable law, HDTMS, Inc. will be merged with and into Dollar Thrifty, as a result of which Dollar Thrifty will become an indirect wholly owned subsidiary of Hertz.  

The tender offer is scheduled to expire at 12:00 midnight, New York City time, Friday, October 5, 2012, unless the tender offer is extended in accordance with the merger agreement and the applicable rules and regulations of the SEC. The closing of the tender offer is subject to customary terms and conditions, including the tender by Dollar Thrifty stockholders of a number of shares of Dollar Thrifty common stock which, when taken together with any shares owned by Hertz and its subsidiaries, represents a majority of the outstanding shares of Dollar Thrifty common stock on a fully diluted basis, and the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

Dollar Thrifty's board of directors unanimously recommends that stockholders accept the tender offer and tender their shares into the tender offer, and if required under applicable law, vote in favor of the adoption of the merger agreement and approval of the merger and the other transactions contemplated by the merger agreement.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs