| -

PARK RIDGE, N.J. — The acquisition of Dollar Thrifty Automotive Group by Hertz Global Holdings took another step toward coming to fruition late last week.

Officials from the companies revealed that they have filed a notification and report form with federal antitrust authorities under the Hart-Scott-Rodino Antitrust Improvements Act of 1976

"We look forward to obtaining regulatory clearance of the transaction," stated Hertz chief executive officer Mark Frissora about the planned acquisition the companies announced back in late April.

"The Dollar and Thrifty value brands complement our premium Hertz brand, and the acquisition will allow us to reach a new and substantial segment of leisure travelers renting at U.S. airports," Frissora continued.

"In addition, the acquisition will enable significant synergies to make Dollar and Thrifty stronger competitors in this market segment, which is dominated primarily by Enterprise/Alamo/National and Avis Budget, both companies having higher U.S. airport market shares than Hertz," he added.

Hertz executives insisted that they expect their acquisition to face fewer antitrust hurdles than a potential rival bid by Avis Budget Group. Avis Budget also filed antitrust paperwork last week.

Hertz contends Avis Budget already operates a significant value brand, Budget Rent A Car, which competes directly against Dollar Thrifty. By contrast, Hertz stressed that it does not have a national value brand.

"Budget and Dollar Thrifty target the same price-conscious consumers, and Hertz does not have a significant presence in that space today," Frissora said.