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DTGF: Merged with Hertz Global Holdings, Inc.; $87.50 per share.
http://www.otcbb.com/asp/dailylist_detail.asp?d=11/27/2012&mkt_ctg=NON-OTCBB
DTG delisted from NYSE to OTC. New ticker DTGF effective today.
http://www.otcbb.com/asp/dailylist_detail.asp?d=11/19/2012&mkt_ctg=NON-OTCBB
Congrats DTG and Hertz holders.. Merger central. Cheers
http://custom.fmg.dowjones.com/custom/tdameritrade-com/html-story.asp?guid={1cd48b2f-0004-478c-94a8-7203a0766e18}
Dollar Thrifty Automotive Group Reports Record Fourth Quarter and Full Year Profit
http://ih.advfn.com/p.php?pid=nmona&article=51279649&symbol=DTG
~ Tuesday! $DTG ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $DTG ~ Earnings expected on Tuesday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=DTG&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=DTG&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=DTG
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=DTG#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=DTG+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=DTG
Finviz: http://finviz.com/quote.ashx?t=DTG
~ BusyStock: http://busystock.com/i.php?s=DTG&v=2
<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=DTG >>>>>>
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
Stock should be at $20! lol oh well was still a novel attempt at a big win on the put play
Hertz Withdraws its Exchange Offer to Acquire Dollar Thrifty
Remains Interested in Acquiring Dollar Thrifty and Focused on Obtaining Antitrust Clearance
Oct 27, 2011 6:00:00 AM
PARK RIDGE, N.J., Oct. 27, 2011 /PRNewswire/ -- Hertz Global Holdings, Inc. (NYSE: HTZ) ("Hertz") today announced that it is withdrawing its exchange offer for all outstanding shares of Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) ("Dollar Thrifty"). Hertz decided to withdraw its exchange offer at this time in light of Dollar Thrifty's plan to commence its announced share repurchase program and current market conditions.
Hertz continues to believe that a merger with Dollar Thrifty is in the best interests of both companies. Hertz remains engaged with the FTC to secure antitrust clearance for the proposed transaction.
Once antitrust clearance has been obtained, Hertz will reassess the appropriate price and other terms of the proposed transaction based on Dollar Thrifty's share repurchase program, Dollar Thrifty's performance, Dollar Thrifty's outlook and prevailing market conditions at that time.
Sweeet! whats it at premarket? cant get my etrade pro to load
Dollar Thrifty Automotive Fails to Elicit a ‘Final’ Hertz Bid at Deadline
By Mark Clothier - Oct 10, 2011 5:00 PM ET .
Dollar Thrifty Automotive Group Inc. (DTG), the target of 18 months of bidding, failed to flush out a “best and final” offer from Hertz Global Holdings Inc. (HTZ) by today’s deadline.
Hertz, the second-largest U.S. car-rental company, is Dollar Thrifty’s lone suitor after Avis Budget Group Inc. (CAR) dropped its pursuit Sept. 14. Dollar Thrifty told Hertz and Avis in letters dated Sept. 6 it wanted final bids submitted by 5 p.m. New York time today.
Hertz has been seeking U.S. Federal Trade Commission approval to buy Dollar Thrifty, the fourth-largest U.S. rental- car chain. Hertz is trying to divest its Advantage brand to help smooth that approval.
“When Avis dropped out, Dollar Thrifty lost control of the process,” Fred Lowrance, a Nashville, Tennessee-based analyst at Avondale Partners LLC, said in a phone interview. “Now they’re just waiting on Hertz.”
Hertz wants to buy Dollar Thrifty to keep its position behind Enterprise Holdings Inc. The nation’s four biggest car- rental chains generate 83 percent of U.S. car-rental sales, according to a September report from IBISWorld, the Santa Monica, California-based industry researcher.
Closely held Enterprise had a 40 percent share, followed by Hertz with 20 percent and Avis with 17 percent. Dollar Thrifty accounted for 5.7 percent of the industry’s sales, IBISWorld said.
Dollar Thrifty shareholders rejected Hertz’s offer in September 2010. Hertz, after calling that bid “final,” renewed its pursuit in May with an offer valued at $1.92 billion. Dollar Thrifty recommended on June 6 that investors not accept Hertz’s bid because it undervalues the company.
“Hertz remains interested in acquiring Dollar Thrifty and continues to pursue an FTC consent decree,” Rich Broome, a spokesman, said in an e-mail.
Shares of Dollar Thrifty rose 1.2 percent to $60.40 at the close in New York. Hertz gained 4.6 percent to $10.08 while Avis shares increased 5.6 percent to $11.22.
still have a couple NOV 40's
still made some money overall since we got in before the options premiums shot up
Sold the last of my puts here this morning, I really screwed up this trade...
Uneventful morning here, wanted news but they are being stubborn...very small put position now.
yeah looks like they sold on the bid
Looks like they are selling the $62.50 calls too, maybe a hedge, since clearly some is buying the stock...
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A big block went through at 2:20 for 2000 shares, i think that is a sell? since it went at $2...
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Volume in the OCT calls hmmm
Hopefully DTG sticks to their diehard $70 target, HTZ should back out and try next year imo...
I think if HTZ management is worth their salt they will cancel this deal for now. When the EU economy rises from the ashes they can go forward, not now though.
Yeah as long as we get some news I'm fine with it...just hate waiting forever for the decision
got some NOV 40 puts, Oct 10 is coming...
oopsie daisy! we lost 58!
heee heeee...tell me about it...my options account went from fat on Tuesday afternoon to weight watchers today
Somehow I'm still holding plenty of Oct $49's had t sell my Jan's yesterday to make sure I didn't go broke lol!
if we break $58 on volume look out below
trying to add to my JAN 40 puts at 1.60
Ok so a decent chunk then...maybe just enough to give the bankers behind this deal pause...
25% of HTZ's rev come from outside the US...
HTZ gets alot of their revenues from europe too right? I think the EU economy is crumbling more every day...bet they are feeling the pressure!
Hertz’s ‘Winning’ Bid for Dollar Thrifty Is Avis’ Gain
Avis’ decision to withdraw leaves it better able to compete globally
Oct 6, 2011, 6:45 am EDT | By Will Ashworth
The gripping 17-month bidding war between Avis (NASDAQ:CAR) and Hertz (NYSE:HTZ) to buy Dollar Thrifty (NYSE:DTG) came to a crashing halt in September when Avis withdrew its takeover offer, paving the way for Hertz to seal the deal. My suggestion for Hertz investors is to sell your stock and drive on over to Avis. Self-restraint is a good thing.
Stock Price
Since the Sept. 14 withdrawal by Avis, Hertz has seen its stock drop by 24%, to $8.63, as of Oct. 4. This puts a value of $65 on its cash-and-stock offer for Dollar Thrifty, which is a 21% premium to its current price. Dollar Thrifty is more profitable than Hertz. Its acquisition would ensure Hertz remains the second-largest car rental company in the U.S., behind Enterprise.
Hertz needs Dollar Thrifty more than Dollar Thrifty needs Hertz, so the deal price is likely to go over $70 a share by the time it’s put to bed, costing upward of $300 million extra. Avis was smart to have withdrawn its offer, and although it has lost 24% since dropping the takeover, once the dust settles, Avis investors will thank their lucky stars it didn’t win the battle for Dollar Thrifty.
Deal Dynamics
In an email defending a higher takeover price for his company’s stock, Dollar Thrifty CEO Scott Thompson recently suggested that one of the many things that make his company an ideal acquisition is its cash-rich balance sheet. As of Oct. 4, Dollar Thrifty trades at 3.4 times cash, compared to 4.8 times for Hertz and 1.6 times for Avis. At least in terms of cash, Avis appears to be the cheapest of the three stocks. Another quality Thompson trots out in defense of Dollar Thrifty’s stock is its significant operating cash flow.
Let’s see how the three compare.
Dollar Thrifty’s operating cash flow in the trailing 12 months is 36.6% of its revenue, while Hertz’s is 23.9% and Avis’ is 31.2%. I use revenue instead of income because Hertz profits are hard to find. Dollar Thrifty definitely would boost Hertz’s profitability, but at a price. Let’s say Hertz ends up paying $75 a share for Dollar Thrifty. The cash portion of the deal, assuming the stock portion remains the same, comes to a bit less than $2 billion, with most of the cost covered by issuing new debt. Total debt would jump 17%, to $13.7 billion. Its debt-to-equity ratio would climb to almost 600% and its annual interest expense would rise by approximately $132 million, to $900 million.
At a time when everyone is preaching debt reduction, this seems to be nothing more than empire building.
Why Avis?
Avis is no peach, either. Its debt sits at $10.1 billion as of June 30, which includes additional amounts used to acquire Avis Europe for $1.8 billion. The deal makes strategic sense because it brings the Avis and Budget brands together under one roof globally. In addition, based on the latest six months ended June 30, the acquisition boosts revenues by 35% and pretax income by 17%. Enterprise, which also owns Alamo and National, has 40% of the U.S. market.
No one is going to knock Enterprise off its perch, so the battle for Dollar Thrifty became a fight for the No. 2 spot. I’m guessing that when it became clear to Avis management that it was going to take more than $70 per share to secure Dollar Thrifty, it started looking at the Europe acquisition as a cheaper and quite possibly better alternative. It’s now operating in 150 countries, including Germany, France, Britain and Spain, with yearly revenues of $7 billion. Europe won’t always be in an economic funk.
Bottom Line
After the Avis Europe deal, Avis has approximately $2.62 in cash. If you back that out of its Oct. 4 stock price of $9.49, it’s trading at 3.9 times its 2012 earnings per share estimate of $1.76. Meanwhile, if you do the same for Hertz, its multiple is 5.3 times its 2012 EPS estimate of $1.33, and that’s before the Dollar Thrifty acquisition. Avis might have surrendered the battle, but I think it won the war.
Oh yeah thats right...Monday is kind of the deadline. I may get some Oct puts later this week and sell my golden Januaries
The wait continues... a fraction of my original position now remains. Still holding JAN 40 puts, only 2 contracts. Nice profit so far, but I want to keep some skin in the game for a big drop!
or today! sell sell sell
Still lagging peers badly...firmly in the red while CAR, HTZ touch green. Can you say "pricing in merger cancellation"?
uh oh, DTG performing WORSE than CAR and HTZ today...was not the case in yesterdays selloff....hmmm
Breaking down! On thin volume too! Imagine when the dumping starts...
Might need a little pop to entice them to dump...
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http://www.dollar.com http://www.dtag.com http://www.thrifty.com
About Dollar Thrifty Automotive Group, Inc.
Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission 'Value Every Time,' the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value-conscious travelers in approximately 70 countries. Dollar and Thrifty have over 800 corporate and franchised locations in the United States and Canada, operating in virtually all of the top U.S. and Canadian airport markets. The Company's approximately 8,500 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network. For additional information, visit http://www.dtag.com.
Press release from 12/15/08
TULSA, Okla., Dec. 15 /PRNewswire-FirstCall/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today reported that it will reinstate the company match portion of its 401(k) plan for employees in 2009. The Company will match employee contributions dollar-for-dollar up to 2 percent beginning in January 2009. Previously, the employee benefit had been suspended in 2008 due to worsening economic conditions and the Company's expected performance in 2008.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020412/DTGLOGO)
"DTG's Board of Directors and the management team feel strongly that reinstating the 401(k) match for employees is the right thing to do," said Scott L. Thompson, President and Chief Executive Officer. "While many companies are faced with economic uncertainty - and our own Company certainly continues to see its share of headwinds - it is tough for companies and employees alike. As we at DTG work together during these difficult times, it is important that employees be able to focus on their own future and that of their families. That's why the DTG board, at management's request, unanimously voted to reinstate the 401(k) match benefit for our employees."
"Employees are what drive our Company's success and we are delighted to recognize their contribution," said Thompson.
About Dollar Thrifty Automotive Group, Inc.
Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time," the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value-conscious travelers in approximately 70 countries. Dollar and Thrifty have over 800 corporate and franchised locations in the United States and Canada, operating in virtually all of the top U.S. and Canadian airport markets. The Company's approximately 7,000 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network. For additional information, visit www.dtag.com.
This press release contains "forward-looking statements" about our expectations, plans and performance. These statements do not guarantee future performance and Dollar Thrifty Automotive Group, Inc. assumes no obligation to update them. Risks and uncertainties that could materially affect future results are detailed in the Company's filings with the Securities and Exchange Commission, such as its annual and quarterly reports and current reports on Form 8-K.
SOURCE Dollar Thrifty Automotive Group, Inc.
Q3 2008 Earnings Conference Call and Webcast - Wednesday, November 5, 2008 - 10am Central Time
Estimated duration - 1 hour
Link to page for webcast - www.dtag.com/phoenix.zhtml
Press Release of Thursday, 10/30/08 - 6pm ET
DOW JONES NEWSWIRES
Dollar Thrifty Automobile Group Inc. (DTG) reduced its work force by 6% to combat current economic conditions and save about $15 million in the next year.
"Today's industry challenges have unfortunately required that we accelerate our efforts to realign our work force and become more efficient," President and Chief Executive Scott L. Thompson said.
The parent of Dollar Rent A Car and Thrifty Car Rental expects to record a charge of $4 million in the fourth quarter related to severance payments. The company said the reduction involves about 400 employees, with 30% from senior management, 15% from headquarters staff and 5% from field staff.
Car-rental companies have suffered along with the ailing auto industry. With the slow economy cutting into travel spending for consumers and businesses, car- rental companies have struggled to maintain revenue. About 90% of Dollar Thrifty's customers rent at airports, and capacity cuts by airlines likely will hurt results further. In the second quarter, net income fell 30% despite a derivative gain.
Last week, Dollar Thrifty said it expected to post a third-quarter profit despite "unprecedented challenges in the economy" and added at that time that it remained in compliance with all covenants under its financing agreements.
Earlier this month, Standard & Poor's Ratings Services lowered its credit ratings on Dollar Thrifty one notch further into junk status, saying the company faces a decline in travel due to the weakening economy in addition to reduced access to capital and higher borrowing costs. Dollar Thrifty rivals, such as Avis Budget Group Inc. (CAR), have also seen their credit ratings lowered.
Dollar Thrifty spooked investors a month ago when it said that third-quarter results would be hurt by lower revenue and the bankruptcy of one of its operators, and that it was looking to amend terms of its debt to maintain covenant compliance.
Shares ended the regular session up 12%, but were down 4.9% to $1.35 in after- hours trading before announcing the job cuts.
-By Shara Tibken, Dow Jones Newswires; 201-938-2168; shara.tibken@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http:// www.djnewsplus.com/al?rnd=hwMdDGxTiv6DlG9ASYItRw%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires 10-30-081740ET Copyright (c) 2008 Dow Jones & Company, Inc.
Press Release of Wednesday, 10/22/08, 6:00AM
Dollar Thrifty Automotive Group Provides Update on Liquidity
TULSA, Okla., Oct. 22 /PRNewswire-FirstCall/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced that it anticipates closing the third quarter with a profit. Additionally, the Company expects to end the third quarter with an unrestricted cash balance in excess of $200 million, up from $80 million as of June 30, 2008, as the Company benefited from a cash dividend from its vehicle finance subsidiary. The Company also reported that as of the most recent reporting date, September 30, 2008; it remained in compliance with all of its financial covenants under its various financing arrangements.
'With today's unprecedented challenges in the economy, maintaining sufficient liquidity and unrestricted cash are important factors to help companies weather this cycle,' said Scott L. Thompson, President and Chief Executive Officer. 'Although, we expect overall economic challenges may exacerbate the seasonal downturn in rental operations this year, we remain focused on executing against our plans and managing liquidity.'
The above data relating to the third quarter are preliminary estimates based on information available at this time. The Company has previously announced that it will release third quarter financial results on November 5, 2008.
Current SEC filings as of 10/22/08:
http://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=dtg&filenum=&State=&SIC=&owner=include&action=getcompany
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