Dollar/Thrifty/Hertz/Avis

[Conan71]

Hertz stated they would not re-up or change their offer. A vote "no" would mean they walk away.

Granted there is nothing legally binding them to that statement.

Kind of like a Brett Favre retirement announcement, eh?

[restored2x]

Hertz stated they would not re-up or change their offer. A vote "no" would mean they walk away.

Granted there is nothing legally binding them to that statement.

Exactly. I think their statement was posturing.

It's tough talk (by Frissora). It's a powerful statement. If nobody steps up after the vote falls apart, your shares could fall to $25 to $30, and Hertz won't be there to pick up the pieces."

Frissora said that if Dollar Thrifty shareholders reject Hertz's offer, Hertz will immediately terminate the merger agreement negotiated April 25, "taking the $50 offer permanently off the table."

Hertz then will end all efforts to acquire Dollar Thrifty, halt the process of selling Advantage, its discount rental car brand, and withdraw its antitrust application from the Federal Trade Commission, he said.

We "arrived at our best and final $50 offer through an open, thoughtful and competitive negotiation, and we cannot be held hostage in an open-ended process," Frissora said.

"We are confident of a standalone strategy, accelerating the growth of Advantage and building on four straight quarters of U.S. airport revenue growth, which significantly outpaces our publicly traded competitors."

Read more from this Tulsa World article at http://www.tulsaworld.com/news/article.aspx?subjectid=54&articleid=20100930_54_E1_CUTLIN409586

Let's see if they withdraw it's anti-trust application with the FTC - then we'll see if it was real or just poker face.