PARK RIDGE, N.J., Oct. 5, 2012 /PRNewswire/ -- Hertz Global
Holdings, Inc. (NYSE: HTZ) today announced that it has extended the
expiration date of its previously announced cash tender offer to
purchase all outstanding shares of common stock of Dollar Thrifty
Automotive Group, Inc. (NYSE: DTG) for $87.50 per share. The tender offer is now
scheduled to expire at 5:00 p.m.,
New York City time, on
October 22, 2012, unless further
extended in accordance with the merger agreement and the applicable
rules and regulations of the U.S. Securities and Exchange
Commission (SEC). The tender offer was previously scheduled
to expire at 12:00 midnight, New York
City time, on October 5,
2012.
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Except for the extension of the tender offer expiration date,
all other terms and conditions of the tender offer remain
unchanged. The depositary for the tender offer has advised
Hertz that, as of the close of business on October 4, 2012, approximately 6,570,988
shares of Dollar Thrifty common stock have been tendered into and
not withdrawn from the tender offer (which includes shares subject
to guaranteed delivery procedures).
The tender offer statement and related materials have been filed
with the SEC. Dollar Thrifty stockholders who need additional
copies of the tender offer statement and related materials or who
have questions regarding the offer should contact Innisfree M&A
Incorporated, the Information Agent for the offer, toll-free at
(877) 456-3507.
Hertz Contact information:
Investors
Leslie Hunziker
Staff Vice President - Investor Relations
Tel: 201-307-2337
E-mail: lhunziker@hertz.com
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 Global Holdings, Inc.
Hertz is the largest worldwide airport general use car
rental brand, operating from approximately 8,650 corporate and
licensee locations in approximately 150 countries in North America, Europe, Latin
America, Asia, Australia, Africa, the Middle
East and New Zealand. Hertz
is the number one airport car rental brand in the U.S. and at 119
major airports in Europe. In
addition, the Company has sales and marketing centers in 60
countries which promote Hertz business both within and outside such
country. Product and service initiatives such as Hertz Gold Choice,
Hertz #1 Club Gold®, NeverLost® customized, onboard navigation
systems, Sirius XM Satellite Radio, and unique cars and SUVs
offered through the Company's Adrenaline, Prestige and Green
Traveler Collections, set Hertz apart from the competition. In
2008, the Company entered the global car sharing market with its
service now referred to as Hertz On Demand which rents cars by the
hour and/or by the day, at various locations in the U.S.,
Canada and Europe. Hertz also operates one of the world's
largest equipment rental businesses, Hertz Equipment Rental
Corporation, offering a diverse line of rental equipment, from
small tools and supplies to earthmoving equipment, as well as new
and used equipment for sale, to customers ranging from major
industrial companies to local contractors and consumers, from
approximately 325 branches in the United
States, Canada,
China, France, Spain
and Saudi Arabia, as well as
through its international licensees. Hertz also owns Donlen
Corporation, based in Northbrook,
Illinois, which is a leader in providing fleet leasing and
management services.
About Dollar Thrifty Automotive Group, Inc.
Through its Dollar Rent A Car and Thrifty Car Rental
brands, the Company has been serving value-conscious leisure and
business travelers since 1950. The Company maintains a strong
presence in domestic leisure travel in virtually all of the top
U.S. and Canadian airport markets, and also derives a significant
portion of its revenue from international travelers to the U.S.
under contracts with various international tour operators.
Dollar and Thrifty have approximately 280 corporate locations in
the United States and Canada, with approximately 5,900 employees
located mainly in North America. In addition to its corporate
operations, the Company maintains global service capabilities
through an expansive franchise network of approximately 1,300
franchise locations in 82 countries. For additional
information, visit www.dtag.com or the brand sites at
www.dollar.com and www.thrifty.com.
Cautionary Note Concerning Forward-Looking Statements
This communication contains "forward-looking statements".
Examples of forward-looking statements include information
concerning Hertz's outlook, anticipated revenues and results of
operations, as well as any other statement that does not directly
relate to any historical or current fact. These forward-looking
statements often include words such as "believe," "expect,"
"project," "anticipate," "intend," "plan," "estimate," "seek,"
"will," "may," "would," "should," "could," "forecasts" or similar
expressions. These statements are based on certain assumptions that
Hertz has made in light of its experience in the industry as well
as its perceptions of historical trends, current conditions,
expected future developments and other factors that Hertz believes
are appropriate in these circumstances. We believe these judgments
are reasonable, but you should understand that these statements are
not guarantees of performance or results, and our actual results
could differ materially from those expressed in the forward-looking
statements due to a variety of important factors, both positive and
negative.
Among other items, such factors could include: our ability to
obtain regulatory approval for and to consummate an acquisition of
Dollar Thrifty; the risk that expected synergies, operational
efficiencies and cost savings from a Dollar Thrifty acquisition may
not be fully realized or realized within the expected time frame;
the risk that unexpected costs will be incurred in connection with
the proposed Dollar Thrifty transaction; the retention of certain
key employees of Dollar Thrifty may be difficult; the operational
and profitability impact of divestitures required to be undertaken
to secure regulatory approval for an acquisition of Dollar Thrifty;
levels of travel demand, particularly with respect to airline
passenger traffic in the United
States and in global markets; significant changes in the
competitive environment, including as a result of industry
consolidation, and the effect of competition in our markets,
including on our pricing policies or use of incentives; occurrences
that disrupt rental activity during our peak periods; our ability
to achieve cost savings and efficiencies and realize opportunities
to increase productivity and profitability; an increase in our
fleet costs as a result of an increase in the cost of new vehicles
and/or a decrease in the price at which we dispose of used vehicles
either in the used vehicle market or under repurchase or guaranteed
depreciation programs; our ability to accurately estimate future
levels of rental activity and adjust the size of our fleet
accordingly; our ability to maintain sufficient liquidity and the
availability to us of additional or continued sources of financing
for our revenue earning equipment and to refinance our existing
indebtedness; safety recalls by the manufacturers of our vehicles
and equipment; a major disruption in our communication or
centralized information networks; financial instability of the
manufacturers of our vehicles and equipment; any impact on us from
the actions of our licensees, franchisees, dealers and independent
contractors; our ability to maintain profitability during adverse
economic cycles and unfavorable external events (including war,
terrorist acts, natural disasters and epidemic disease); shortages
of fuel and increases or volatility in fuel costs; our ability to
successfully integrate acquisitions and complete dispositions; our
ability to maintain favorable brand recognition; costs and risks
associated with litigation; risks related to our indebtedness,
including our substantial amount of debt and our ability to incur
substantially more debt and increases in interest rates or in our
borrowing margins; our ability to meet the financial and other
covenants contained in our senior credit facilities, our
outstanding unsecured senior notes and certain asset-backed and
asset-based funding arrangements; changes in accounting principles,
or their application or interpretation, and our ability to make
accurate estimates and the assumptions underlying the estimates,
which could have an effect on earnings; changes in the existing, or
the adoption of new laws, regulations, policies or other activities
of governments, agencies and similar organizations where such
actions may affect our operations, the cost thereof or applicable
tax rates; changes to our senior management team; the effect of
tangible and intangible asset impairment charges; the impact of our
derivative instruments, which can be affected by fluctuations in
interest rates and commodity prices; and our exposure to
fluctuations in foreign exchange rates. Additional information
concerning these and other factors can be found in our filings and
Dollar Thrifty's filings with the Securities and Exchange
Commission, including our and Dollar Thrifty's most recent Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K.
Hertz therefore cautions you against relying on these
forward-looking statements. All forward-looking statements
attributable to Hertz or persons acting on its behalf are expressly
qualified in their entirety by the foregoing cautionary statements.
All such statements speak only as of the date made, and Hertz
undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Additional Information
On September 10, 2012, Hertz
filed with the United States Securities and Exchange Commission
(the "SEC") a tender offer statement on Schedule TO and Dollar
Thrifty filed with the SEC a Solicitation/Recommendation Statement
on Schedule 14D-9 ("Schedule 14D-9") regarding the tender offer
described herein. Investors and security holders of Dollar
Thrifty are strongly advised to read the tender offer statement (as
updated and amended) filed by Hertz and the Schedule 14D-9 (as
updated and amended) filed by Dollar Thrifty with the SEC, because
each contains important information that Dollar Thrifty's
stockholders should consider before tendering their shares.
The tender offer statement and other documents filed by Hertz with
the SEC are available for free at the SEC's web site
(http://www.sec.gov). Copies of Hertz's filings with the SEC
may be obtained at the SEC's web site (http://www.sec.gov) or by
directing a request to Hertz at (201) 307-2100. Copies of
Dollar Thrifty's filings with the SEC are available free of charge
on Dollar Thrifty's website at www.dtag.com or by contacting Dollar
Thrifty's Investor Relations Department at 918-669-2236.
SOURCE Hertz Global Holdings, Inc.