Feds Sign Off on Hertz, Dollar Thrifty Merger
The Federal Trade Commission has given final approval to the merger of Hertz and Tulsa-based Dollar Thrifty.Hertz officials announced Thursday they had received a final consent order from the regulatory agency that oversees mergers and acquisitions of companies."We are pleased that the FTC has officially concluded its review of the Dollar Thrifty transaction," said Mark P. Frissora, Hertz Chairman and Chief Executive Officer. "Throughout this process we have worked closely with the agency, and the result has been a transaction that we believe will benefit our customers and shareholders for years to come."Hertz agreed in August to purchase the Tulsa-based rental car company from $2.3 billion.In May, Hertz started moving some of its operations to a new headquarters in Florida and as a result began laying off some Tulsa employees.