Hertz Global Holdings, Inc.–the largest publicly-traded auto renter–announced on Monday that it has upped the ante for Dollar Thrifty Automotive Group, Inc., with a $2.24 billion bid. Hertz’s renewed offer is substantially higher than the one currently under regulatory review from competitor Avis Budget Group, Inc.
Hertz’s $1.44 billion bid for Tulsa, Okla.-based Dollar Thrifty was rejected last September, Bloomberg reports, as Dollar Thrifty shareholders voiced disapproval of the offer. Meanwhile, Avis–the U.S.’s third-largest car rental company–offered $45.79 and 0.6543 of its shares for Dollar Thrifty last year, Bloomberg says, but the two companies have hit a roadblock in regulatory discussions with the Federal Trade Commission (FTC).
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