Hertz Extends Exchange Offer to Acquire Dollar Thrifty
Hertz Global Holdings, Inc. announced that it has extended the
expiration date of its exchange offer for all outstanding shares
of Dollar Thrifty Automotive Group, Inc. for $57.60 in cash and
0.8546 shares of Hertz common stock. The exchange offer and withdrawal
rights are now scheduled to expire at midnight EST August 5, 2011,
unless further extended. The exchange offer was previously scheduled
to expire on July 8.
Except for the extension of the exchange offer expiration date,
all other terms and conditions of the exchange offer remain unchanged.
As of the close of business on July 8, 2011, approximately 1,011,661
shares of Dollar Thrifty common stock had been tendered into and
not withdrawn from the exchange offer.
Stockholder questions regarding the exchange offer or requests
for exchange offer documents may be directed to Hertz's information
agent for the exchange offer, Innisfree M&A Incorporated,
toll-free at (877) 456-3507. Stockholder questions regarding the
exchange offer may also be directed to Hertz's dealer manager
for the exchange offer, Barclays Capital, toll-free at (888) 610-5877.
Barclays Capital, Lazard, Bank of America Merrill Lynch and Deutsche
Bank Securities are acting as financial advisors to Hertz. Barclays
Capital is acting as the dealer manager for the exchange offer.
Cravath, Swaine & Moore LLP, Debevoise & Plimpton LLP
and Jones Day are acting as legal advisors to Hertz. William Blair
& Company is acting as a financial advisor to Hertz in connection
with the sale of its Advantage brand.
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