Hertz to Acquire Rival Car-Rental Brand

In a move that will further consolidate the rental car business, Hertz Global Holdings has reached an agreement to purchase Dollar Thrifty Automotive Group for $2.6 billion in cash. Dollar Thrifty has been in takeover talks with both Hertz and Avis Group Inc. for more than two years. Avis still has 30 days to offer a counterproposal. Together, Hertz and Dollar Thrifty will control about 25% of the U.S. market. The sale also means that Hertz, Avis and Enterprise Group—which also owns the Alamo and National brands—will together control more than 95% of rentals.  To head off antitrust concerns, Hertz has agreed to sell its own discount brand, Advantage. reuters.com