After trying to acquire Dollar Thrifty for more than 2 years, Hertz withdrew from its bid for the co

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After trying los angeles colleges to acquire Dollar Thrifty for more than 2 years, Hertz withdrew from its bid for the company last October, citing Dollar Thrifty's plan to buy back its own stock and "current market" conditions.
Hertz had previously offered to buy Dollar Thrifty for $57.60 in cash and 0.8546 shares of Hertz stock for each Dollar Thrifty share, while Avis ( NASDAQ:CAR ) had originally made a bid of $45.79 per share in cash and 0.6543 shares of Avis before walking away.
The transaction, los angeles colleges which remains subject to FTC and shareholder approval, will be structured los angeles colleges in two steps: a cash offer for all outstanding los angeles colleges stock, los angeles colleges followed by a cash merger where Hertz would acquire any remaining outstanding shares of Dollar Thrifty.
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