Dollar Thrifty to Go It Alone

TULSA, Oklahoma ( TheStreet) -- Dollar Thrifty ( DTG) will stick with its stand-alone plan.

In a statement, Dollar Thrifty said a buyout offer from Hertz ( HTZ) wasn't acceptable and so "having received no acceptable offer after conducting an unprecedentedly open process with clearly articulated requirements, it is time for us to move forward on a stand-alone basis."

Instead, the car rental company said it would begin a buyback program of $400 million of stock.

Dollar Thrifty also reiterated it expects third-quarter rental revenue to increase by about 2% from a year earlier.

-- Written by Joseph Woelfel

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