PARK RIDGE, N.J., Aug. 15, 2011 /PRNewswire/ -- Hertz Global
Holdings, Inc. (NYSE: HTZ) ("Hertz") today announced that it has
received a request for additional information ("Second Request")
from the Federal Trade Commission ("FTC") relating to Hertz's
proposed acquisition of Dollar Thrifty Automotive Group, Inc.
(NYSE: DTG) ("Dollar Thrifty"). The Second Request was issued
under notification requirements of the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended.
Hertz continues to cooperate with the FTC to obtain antitrust
regulatory clearance for the proposed acquisition.
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.
Contact information:
Investors
Leslie Hunziker
Staff Vice President - Investor Relations
Tel: 201-307-2337
E-mail: lhunziker@hertz.com
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
About Hertz
Hertz is the world's largest general use airport car rental
brand, operating from approximately 8,000 locations in
approximately 150 countries worldwide. Hertz is the number
one airport car rental brand in the U.S. and at 83 major airports
in Europe, operating both
corporate and licensee locations in cities and airports in
North America, Europe, Latin
America, Asia, Australia and New
Zealand. In addition, Hertz has licensee locations in
cities and airports in Africa and
the Middle East. Product and
service initiatives such as Hertz #1 Club Gold(R), Never Lost(R)
customized, onboard navigation systems, SIRIUS XM Satellite Radio,
and unique cars and SUVs offered through Hertz's Adrenaline and
Green Traveler Collections, set Hertz apart from the competition.
In 2008, Hertz entered the global car sharing market in
London, New York City and Paris. Hertz also 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 320 branches in
the United States, Canada, China, France, Italy, Saudi
Arabia 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 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
September 9, 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.
SOURCE Hertz Global Holdings, Inc.