U.S. antitrust regulators are looking into the consent decree that allows Macquarie Group Ltd's private equity business to purchase the Advantage rental car brand from Hertz Global Holdings Inc, a source familiar with the matter told Reuters. At the time of approving Hertz's $2.56 billion bid for Dollar Thrifty Automotive, the Federal Trade Commission -concerned about the number of major rental car chains shrinking to three from four - demanded that Hertz sell locations, recreating a fourth competitor after Dollar Thrifty was absorbed.On Nov. 15, Hertz sold its Advantage brand, which competes with Dollar Thrifty in the low-cost segment of the market, to Franchise Services of North America and Macquarie Capital.FTC could not be immediately reached for comment by Reuters outside regular business hours. Macquarie declined to comment.Privately held Enterprise Holdings is the biggest player in the industry, followed by Hertz's and Avis Budget Group Inc .
Avis Budget Group, Inc. (Avis Budget) operates two brands in the global vehicle rental industry through Avis and Budget. Shares of CAR traded higher by 0.18% or $0.05/share to $27.28. In the past year, the shares have traded as low as $11.93 and as high as $29.53. On average, 1814700 shares of CAR exchange hands on a given day and today's volume is recorded at 2018254.
Franchise Services of North America Inc.(FSNA) is a Canada-based company, engaged in the auto rental segment, in multiple jurisdictions, which involves licensing to franchisees to operate an auto rental business under Company-owned brands and providing franchisees, independent auto rental operators and other related auto rental operations with financial services related to insurance products. Shares of FSN remained unchanged at $0.63. In the past year, the shares have traded as low as $0.17 and as high as $0.95. On average, 21448 shares of FSN.V exchange hands on a given day and today's volume is recorded at 0.
Hertz Global Holdings, Inc. (Hertz Holdings) is a holding company. Shares of HTZ traded higher by 0.58% or $0.13/share to $22.56. In the past year, the shares have traded as low as $10.22 and as high as $24.02. On average, 7155080 shares of HTZ exchange hands on a given day and today's volume is recorded at 8772023.
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