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Dollar Thrifty Automotive Group Inc. (DTG)

DTG is defunct.
  • Jul. 11, 2013, 10:58 AM
    The FTC is prepared to issue final approval of the merger of Hertz (HTZ +2.2%) and Dollar Thrifty (DTG), according to reports.
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  • Nov. 16, 2012, 5:59 AM
    The FTC yesterday voted 4-1 to approve Hertz's (HTZ) $2.6B acquisition of Dollar Thrifty (DTG) after Hertz agreed to divest 62 Advantage brand outlets - as already known - and the rights to operate 29 Dollar Thrifty airport locations, 13 more than originally planned. "These concessions are not a needle-mover, for Hertz at least," says analyst Fred Lowrance. (PR)
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  • Nov. 15, 2012, 8:23 AM
    Hertz (HTZ) will gain regulatory approval by Friday to buy Dollar Thrifty (DTG) after striking a deal to exit airports which include high-profile LaGuardia in NYC. As part of the regulatory matrix, the company will reportedly have to give up counter space at locations where buying Dollar reduces consumer options to three even after factoring in the sale of Advantage. HTZ -0.1% premarket, DTG +0.3%. (Previous on HTZ-DTG marriage)
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  • Nov. 15, 2012, 4:37 AM
    The FTC is ready to authorize Hertz's (HTZ) long-awaited $2.6B acquisition of Dollar Thrifty (DTG) after Hertz offered to sell 15 more airport outlets than it originally proposed, Bloomberg reports. The agency is circulating a draft approval announcement among its commissioners.
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  • Nov. 12, 2012, 8:31 AM
    Hertz (HTZ) tentatively agrees to sell some of its airport rental locations across the U.S. in order to appease regulators looking at its merger with Dollar Thrifty (DTG), according to reports filtering in. The current tender offer for the long-awaited $2.56B deal expires November 16.
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  • Nov. 9, 2012, 2:12 PM
    The FTC wants more concessions out of Hertz Global (HTZ +5.3%) before it will allow the acquisition of Dollar Thrifty (DTG +4.4%) to move forward, according to Bloomberg. Sources say the talks have turned acrimonious as the regulator presses Hertz to give up more airport locations. Shares of both companies spiked higher off of the report before easing off again.
  • Nov. 5, 2012, 7:09 AM
    Hertz Global (HTZ) extends its tender offer for Dollar Thrifty (DTG) to November 16. The move adds another 11 days for the long-awaited merger to see completion.
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  • Nov. 1, 2012, 6:45 AM
    More on Dollar Thrifty Automotive Group's (DTG) Q3: Rental revenue up 1.5% Y/Y to $442.3M. Monthly revenue per unit slips 4.2% to $1,235. Utilization rate up 80 bps to 84.7%. Expects full-year EPS of $5.50-$5.75, up from prior guidance of $5.25-$5.70. (PR)
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  • Nov. 1, 2012, 6:07 AM
    Dollar Thrifty Automotive Group (DTG): Q3 EPS of $1.91 beats by $0.22. Revenue of $460.6M (+2% Y/Y) beats by $6M. (PR)
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  • Oct. 25, 2012, 1:11 PM
    Shares of Dollar Thrifty (DTG -5.2%) and Hertz Global (HTZ -2.9%) shoot lower after a report tips off that a division within the FTC wants to block the merger between the two car rental companies. The deal was previously thought by analysts to have cleared the last few remaining hurdles before nearing its long-awaited completion.
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  • Oct. 18, 2012, 8:33 AM
    Hertz Global (HTZ) extends its timing agreement with the FTC (again) in regard to its purchase of Dollar Thrifty (DTG) to 11:59 PM on November 16. The delay doesn't necessarily mean a regulatory problem has cropped up.
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  • Oct. 5, 2012, 9:07 AM
    Hertz (HTZ) extends its offer for Dollar Thrifty (DTG) to Oct. 22 after only 24% of the rival car-rental company's shares were tendered. Hertz agreed to a $2.3B deal for Dollar Thrifty in August, ending a long bidding war with Avis.
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  • Sep. 26, 2012, 7:31 AM
    Dollar Thrifty (DTG) announces that a go-shop period related to its merger with Hertz Global (HTZ) has expired with no new bidders stepping up to the plate. The merger will now push forward with a tender offer from Hertz due to expire at midnight on October 5.
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  • Sep. 13, 2012, 8:48 AM
    The end of the long road is finally in sight to see Hertz Global (HTZ) snap up Dollar Thrifty (DTG). In comments made at the Morgan Stanley Industrial and Auto Conference, execs note a FTC decision on the merger is expected by the end of October. Once all the dust settles, Hertz plans to grow its Dollar Thrifty business as an international discount-oriented brand. (webcast)
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  • Sep. 10, 2012, 6:49 AM
    Hertz (HTZ) launches its tender offer to purchase Dollar Thrifty (DTG), setting in motion a merger that has been years in the making. The purchase price of $87.50 a share was announced last week.
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  • Sep. 5, 2012, 6:35 PM
    Avis (CAR) says it plans to buy Apex Car Rentals, New Zealand’s largest independent car rental firm, for $29M. Apex operates a fleet of ~4,000 rental cars, 1% of the size of Hertz’s (HTZ) $2.3B purchase of Dollar Thrifty (DTG) and 3% of the size of DTG's fleet. But the deal boosts CAR's international presence, and should dispel any last thoughts that it's still considering another play for DTG.
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Company Description
Dollar Thrifty Automotive Group, Inc., a Delaware corporation (“DTG”), owns DTG Operations, Inc. (“DTG Operations”), Dollar Rent A Car, Inc. and Thrifty, Inc. Thrifty, Inc. owns Thrifty Rent-A-Car System, Inc. and Thrifty Car Sales, Inc. (“Thrifty Car Sales”). Thrifty Rent-A-Car System, Inc.... More