PARK RIDGE, N.J., Sept. 21 /PRNewswire/ -- The Hertz Corporation
(NYSE: HRZ) announced today that it has received a preliminary, non-binding
proposal from Ford Motor Company (NYSE: F) to acquire, through a merger, all
of the outstanding shares of Hertz Class A common stock that are not currently
owned by Ford at a cash price of $30 per share. Ford currently owns
approximately 81.5% of Hertz' Class A common stock. The proposal is subject
to approval of the Hertz Board of Directors, the Board's favorable
recommendation to Hertz shareholders and the negotiation, execution and
performance of a definitive merger agreement. Hertz' Board of Directors will
meet soon to begin evaluating Ford's proposal.
Hertz is the world's largest car rental company and a leading industrial
and construction equipment rental business. Headquartered in Park Ridge, NJ,
Hertz operates from approximately 6,500 locations in the U.S. and in over
140 foreign countries.
SOURCE Hertz Corporation
 back to top
Related links:
http://www.hertz.com
Company News On-Call:
http://www.prnewswire.com/comp/406850.html or fax,
800-758-5804, ext. 406850
CONTACT:
Richard Broome, Media Relations,
201-307-2486, or Lauren S. Babus, Investor Relations,
201-307-2337, both of Hertz Corporation
|
