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Hertz steals march on Avis in bidding battle

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Hertz steals march on Avis in bidding battle

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Carhire firm Hertz has upped its offer for Dollar Thrifty Group in a bidding war with rival Avis. The improved offer is worth just over 1.2 billion euros, or 39 euros a share, including a leap of 8.43 euros per share in the cash component.
To avoid antitrust penalties Herz is hiving off its low-cost unit Advantage Rent-a-Car, for which it says it has already received interest from several parties.