Hertz Extends Tender Offer To Acquire Dollar Thrifty And Extends Escrow Arrangements For Related Financing
PARK RIDGE, N.J., Nov. 5, 2012 /PRNewswire/ -- Hertz Global Holdings, Inc. (NYSE: HTZ) today announced that it has extended the expiration date of its previously announced cash tender offer to purchase all outstanding shares of common stock of Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) for $87.50 per share. The tender offer is now scheduled to expire at 5:00 p.m., New York City time, on November 16, 2012, unless further extended in accordance with the merger agreement and the applicable rules and regulations of the U.S. Securities and Exchange Commission (the "SEC"). The tender offer was previously scheduled to expire at 5:00 p.m., New York City time, on November 5, 2012.
Except for the extension of the tender offer expiration date, all other terms and conditions of the tender offer remain unchanged. The depositary for the tender offer has advised Hertz that, as of the close of business on November 2, 2012, approximately 8,939,401 shares of Dollar Thrifty common stock have been tendered into and not withdrawn from the tender offer (which includes shares subject to guaranteed delivery procedures).
As previously announced on October 18, 2012, Hertz agreed to extend the term of its timing agreement with the Federal Trade Commission until 11:59 p.m. on November 16, 2012. The tender offer is now scheduled to expire on the same date as the timing agreement.The tender offer statement and related materials have been filed with the SEC. Dollar Thrifty stockholders who need additional copies of the tender offer statement and related materials or who have questions regarding the offer should contact Innisfree M&A Incorporated, the Information Agent for the offer, toll-free at (877) 456-3507.
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