NEW YORK (
is close to a deal to acquire
, according to published media reports.
Citing anonymous sources familiar with the situation,
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.
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.
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Wall Street Journal
reported that the boards of both companies were expected to meet Sunday and that a transaction could be announced as early as Monday.
Hertz has been trying to acquire Dollar Thrifty for more than two years, but Dollar Thrifty's shareholders rejected a 2010 offer, and Hertz withdrew another offer last year,
Shares of Hertz closed Friday at $13.15.
This article was written by a staff member of TheStreet.