Dollar Thrifty Announced Its Board Recommended Its Shareholders Not Tender Their Shares Pursuant

- Dollar Thrifty Announced Its Board Recommended Its Shareholders Not Tender Their Shares Pursuant



Jun 6, 2011

Dollar Thrifty (NYSE:DTG) announced its board of directors recommended that shareholders not tender their shares pursuant to Hertz Global Holdings (NYSE:HTZ) offer to acquire all of the outstanding shares for $72 per Dollar Thrifty share, which consists of $57.60 in cash and 0.8546 shares of HTZ common stock.

Scott L. Thompson, President and Chief Executive Officer said, "Given the uncertainty surrounding the length and outcome of the regulatory process as Hertz and Avis Budget work towards antitrust clearance, the Board is recommending that Dollar Thrifty shareholders take no action with respect to the Hertz exchange offer at this time. We will be monitoring the antitrust regulatory process and other circumstances carefully, and our Board will reconsider its recommendation if the situation warrants."

Dollar Thrifty Automotive is currently above its 50-day moving average (MA) of $73.08 and above its 200-day of $55.29.

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Hertz Reports Solid Q1 Results, Loss Narrows To $0.03, Revs Up 7.2% YoY

Hertz Reports Solid Q1 Results, Loss Narrows To $0.03, Revs Up 7.2% YoY



Apr 26, 2011

Hertz Global Holdings (NYSE:HTZ) reported a Q1 EPS loss of $0.03, beating the consensus estimate for a $0.05 per share loss. Revenue for the quarter was up 7.2% year-over-year to $1.78 billion, just above the consensus estimate for $1.77 billion.

Mark P. Frissora, the Company's Chairman and Chief Executive Officer, said, "We continued to make significant operational progress and balance sheet improvements in the first quarter of 2011. U.S. car rental delivered record first quarter adjusted pre-tax income results despite unusually severe winter weather in January and February, and Europe car rental performed well again despite an unsettled economic environment. Both businesses achieved their highest customer service ratings since we began measuring in 2007."

The company sees 2011 EPS of $0.85 to $0.90, above the consensus estimate for $0.83 per share, and 2011 revenues of $8.10 to $8.20 billion, vs. the consensus estimate for $8.13 billion.