Dollar Thrifty Automotive Group Inc (DTG.N), the object of a takeover battle between rivals Hertz Global Holdings Inc (HTZ.N) and Avis Budget Group Inc (CAR.O), said on Sunday it would seek best and final offers from the suitors in early October. Dollar Thrifty said both car rental companies have made substantial progress with regulatory reviews, and that the time has come for best and final definitive proposals. "Continuing uncertainty is in no ones best interest," said Dollar Thrifty's Chief Executive Scott Thompson. "Based on the results of this process, we will consider what actions would be in the best interests of Dollar Thrifty and its shareholders," Thompson said in a letter to the CEOs of both Avis and Hertz.
Dollar Thrifty Automotive Group, Inc. (DTG) is engaged in the business of the daily rental of vehicles to business and leisure customers through company owned stores. Shares of DTG fell by 3.82% or $-2.46/share to $61.91. In the past year, the shares have traded as low as $45.36 and as high as $84.27. On average, 536045 shares of DTG exchange hands on a given day and today's volume is recorded at 798706.
Hertz Global Holdings, Inc. (Hertz Holdings) is a worldwide airport general use car rental brand, operating from approximately 8,500 locations in 146 countries as of December 31, 2010. Shares of HTZ fell by 4.71% or $-0.48/share to $9.71. In the past year, the shares have traded as low as $8.36 and as high as $17.64. On average, 4964680 shares of HTZ exchange hands on a given day and today's volume is recorded at 5033265.
Avis Budget Group, Inc. (Avis Budget) operates in two brands in the global vehicle rental industry through Avis and Budget. Shares of CAR fell by 1.02% or $-0.12/share to $11.61. In the past year, the shares have traded as low as $8.89 and as high as $19.49. On average, 1963860 shares of CAR exchange hands on a given day and today's volume is recorded at 3364862.
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