NEW YORK (AP) - Hertz Global Holdings Inc. says Canadian
antitrust regulators have approved its proposed $1.17 billion
acquisition of fellow car-rental operator Dollar Thrifty Automotive
Hertz and Avis are fighting to take over Tulsa, Okla.-based
Dollar Thrifty, although the bidding war has been conducted at
prices lower than Dollar Thrifty investors had hoped.
Hertz says the Canadian Competition Bureau notified the company
it wouldn't block or slow a possible deal. The period in which the
regulators could have asked for more information about the deal had
Last week, Avis announced a competing $1.33 billion bid for
Dollar Thrifty that valued Dollar Thrifty below its then-current
stock price. Dollar Thrifty shares have gained, however, since
Hertz announced its cash-and-stock offer in April.
Dollar Thrifty shareholders are scheduled to vote on the Hertz
deal Sept. 16.
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