We mean business
Comprehensive legal services for businesses
in New Jersey and New York
Best Lawyers | Best Law Firms | U.S.News & world report | 2021
Richard J. Lambert was named by Best Lawyers® as a 2021 Corporate Law “Lawyer of the Year.”

Best Lawyers® is the oldest and most respected peer-review publication in the legal profession. Only one lawyer in each practice area in a given community is honored as “Lawyer of the Year.”

comprehensive legal services for businesses

Hertz vs. Avis: Antitrust Issues Involved in Dollar Acquisition

A $1.43 billion bid from Park Ridge, New Jersey-based Hertz Global Holdings, Inc. to acquire Dollar Thrifty Automotive Group Inc. was accepted by Dollar’s board this week. Hertz had been competing with Parsippany-based Avis Budget Group Inc. in its effort to acquire Dollar Thrifty.

Dollar Thrifty said that one reason their board ultimately favored the Hertz deal is that it includes a $44.6 million reverse breakup fee. Dollar Thrifty said that the Avis deal did not include breakup protection. They also believe that an Avis-Dollar Thrifty merger might have more difficulty gaining the approval of antitrust regulators and that Avis did not do enough to address these concerns.

Dollar Thrifty thought that antitrust regulators might not approve of a merger with Avis because Avis’s Budget Rent A Car division has a similar airport car rental market share as Dollar Thrifty, according to the Los Angeles Times.

In addition to the breakup fee protection, Hertz Chairman and CEO Mark Frissora has said that the company is already working on selling off its Advantage Rent-a-Car division to help the deal quickly gain approval from antitrust regulators. Hertz’s Advantage Rent-a-Car division has a much smaller share of the budget airport car rental market than Dollar or Avis.

Dollar Thrifty shareholders will vote on the Hertz bid on September 30.



Dollar Thrifty accepts Hertz’s new $1.43 billion offer (Los Angeles Times)

Office Location

Dunn Lambert, LLC
1740 Broadway, 15th Floor
New York, NY 10019

Paramus Law Office Map

Dunn Lambert, LLC

New York Law Office Map

Phone: 551-228-2690
Fax: 201-957-0874

Best Lawyers | Best Law Firms | U.S.News & world report | 2021

GET ANSWERS from a firm
with a sense of business.


Review US
FindLaw Network