By Greg Hazley
Sard Verbinnen and Company is assisting Dollar Thrifty Automotive Group as it tries to fend of an acquisition bid by Avis Budget Group, an attempt to thwart Dollar Thrifty’s planned merger with Hertz Global Holding.
Avis, which first moved to torpedo Hertz’s $1.17 billion deal for DT in May, is supported by Joele Frank, Wilkinson Brimmer Katcher. Avis also has the proxy firm MacKenzie Partners working its corner.
Avis released a $1.33 billion offer for DT on Wednesday. DT said it has already executed a merger deal with Hertz and continues to be bound by the terms of the agreement, but the company said its board will review the Avis bid.
Both offers are below DT’s current share value, which has risen 25% since Hertz offer in April.
Hertz hasn’t returned an inquiry about its PR counsel in the takeover fight. |