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Hertz Buys Dollar Thrifty For $1.2 Billion; Will Keep Brands Alive

Hertz Global Holdings is buying Dollar Thrifty Automotive for about $1.2 billion. Dollar Thrifty rents cars under the Dollar Rent A Car and Thrifty Car Rental brands, primarily in the U.S. market. The company will have a single publicly traded company -- Avis Budget -- to compete against.

Hertz plans to keep the Dollar and Thrifty brands, according to the Wall Street Journal's Sarah Nassaeur. The acquisition is "really about having a multi-brand strategy in the leisure segment," according to Mark P. Frissora, Hertz chairman and CEO.

Dollar Thrifty also has a strong international presence, Frissora says in a statement, enabling Hertz to "accelerate" its leisure rental strategy in Europe and other markets.

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