Hertz Files Hart-Scott-Rodino Notification
July 14 2011 - 5:17PM
Marketwired
Hertz Global Holdings, Inc. (NYSE: HTZ) ("Hertz") today announced
that it has filed a Notification and Report Form with the federal
antitrust authorities under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended, relating to Hertz's exchange
offer for all outstanding shares of Dollar Thrifty Automotive
Group, Inc. (NYSE: DTG).
Barclays Capital, Lazard, Bank of America Merrill Lynch and
Deutsche Bank Securities are acting as financial advisors to Hertz.
Barclays Capital is acting as the dealer manager for the exchange
offer. Cravath, Swaine & Moore LLP, Debevoise & Plimpton
LLP and Jones Day are acting as legal advisors to Hertz. William
Blair & Company is acting as a financial advisor to Hertz in
connection with the sale of its Advantage brand.
About Hertz
Hertz is the world's largest general use airport car rental
brand, operating from approximately 8,100 locations in 146
countries worldwide. Hertz is the number one airport car rental
brand in the U.S. and at 78 major airports in Europe, operating
both corporate and licensee locations in cities and airports in
North America, Europe, Latin America, Australia and New Zealand. In
addition, Hertz has licensee locations in cities and airports in
Africa, Asia, and the Middle East. Product and service initiatives
such as Hertz #1 Club Gold®, Never Lost® customized, onboard
navigation systems, SIRIUS XM Satellite Radio, and unique cars and
SUVs offered through Hertz's Prestige, Fun and Green Collections,
set Hertz apart from the competition. Hertz also operates the
global car sharing club, Connect by Hertz, in New York City,
Berlin, London, Madrid and Paris. In addition, Hertz operates one
of the world's largest equipment rental businesses, Hertz Equipment
Rental Corporation, offering a diverse line of equipment, including
tools and supplies, as well as new and used equipment for sale, to
customers ranging from major industrial companies to local
contractors and consumers from approximately 325 branches in the
United States, Canada, China, France and Spain.
Additional Information
This communication relates to the offer (the "Offer") by HDTMS,
Inc. ("HDTMS"), a wholly owned subsidiary of Hertz, to exchange
each issued and outstanding share of common stock (including the
associated preferred stock purchase rights) of Dollar Thrifty
Automotive Group, Inc. ("Dollar Thrifty") for $57.60 in cash and
0.8546 shares of Hertz common stock. The Offer is scheduled to
expire at 12:00 midnight, New York City time, on August 5, 2011,
unless further extended by HDTMS. Any extension of the expiration
date will be made by public announcement no later than 9:00 a.m.,
New York City time, on the first business day after the previously
scheduled expiration date. This communication is for informational
purposes only and does not constitute an offer to exchange, or a
solicitation of an offer to exchange, shares of Dollar Thrifty
common stock, nor is it a substitute for the Tender Offer Statement
on Schedule TO or the Prospectus/Offer to Exchange included in the
Registration Statement on Form S-4 (Reg. No. 333-174042)
(collectively, with the accompanying Letter of Transmittal and
related documents and as amended from time to time, the "Exchange
Offer Documents") filed by Hertz with the Securities and Exchange
Commission (the "SEC"). The SEC declared the Registration Statement
related to the Offer effective on June 1, 2011. The Offer is made
only through the Exchange Offer Documents.
Security holders and investors may obtain any of the foregoing
documents for free by visiting EDGAR on the SEC website at
www.sec.gov or by calling Innisfree M&A Incorporated toll-free
at (877) 456-3507. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ
THESE DOCUMENTS AND OTHER RELEVANT MATERIALS AS THEY BECOME
AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Forward-Looking Statements
Certain statements contained herein constitute forward-looking
statements. These statements are based on the current expectations
and beliefs of Hertz and are subject to a number of risks,
uncertainties and assumptions that could cause actual results to
differ materially from those described in the forward-looking
statements. All statements other than statements of historical fact
are statements that could be deemed forward-looking statements.
Risks, uncertainties and assumptions include the possibility that
(1) Hertz may be unable to obtain regulatory approvals required for
the Offer or may be required to accept conditions that could reduce
the anticipated benefits of the Offer as a condition to obtaining
regulatory approvals; (2) Dollar Thrifty stockholders may not
tender a sufficient number of shares into the Offer or Hertz may
otherwise be unable to consummate the Offer; (3) the length of time
necessary to consummate the Offer may be longer than anticipated;
(4) problems may arise in successfully integrating the businesses
of Hertz and Dollar Thrifty and Hertz may not realize the
anticipated synergies and other benefits following the Offer; (5)
the Offer may involve unexpected costs; (6) the Hertz and Dollar
Thrifty businesses may suffer as a result of uncertainty
surrounding the Offer; and (7) Hertz and/or Dollar Thrifty may be
adversely affected by the other risks described in the SEC reports
of Hertz and Dollar Thrifty. Because forward-looking statements
involve risks and uncertainties, actual results and events may
differ materially from results and events currently expected by
Hertz. Hertz assumes no obligation and expressly disclaims any duty
to update the information contained herein except as required by
law.
Contact information: Investors Leslie Hunziker
Staff Vice President - Investor Relations Tel: 201-307-2337 E-mail:
lhunziker@hertz.com Alan Miller / Scott Winter Innisfree M&A
Incorporated Tel: 212-750-5833 Barclays Capital Tel: 888-610-5877
Media Richard Broome Senior Vice President - Corporate
Affairs & Communications Tel: 201-307-2486 E-mail:
rbroome@hertz.com Steven Lipin / Jayne Rosefield Brunswick Group
Tel: 212-333-3810
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