PARK RIDGE, N.J., Sept. 25 /PRNewswire/ -- The Hertz Corporation
(NYSE: HRZ) announced today that its Board of Directors has formed a Special
Committee to consider the previously announced proposal from Ford Motor
Company (NYSE: F) to acquire, through a merger, all of the outstanding shares
of Hertz' stock that are not currently owned by Ford at a cash price of
$30 per share of Hertz Class A common stock. Ford currently owns
approximately 81.5% of Hertz' common stock.
The Special Committee is comprised of Louis C. Burnett, Managing Partner,
Secura Burnett Company LLC; Michael T. Monahan, President, Monahan
Enterprises, LLC and Chairman, Munder Capital Management; and John M.
Thompson, Vice Chairman of the Board, IBM Corporation.
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
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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:
Media Relations - Richard Broome,
201-307-2486, or Investor Relations - Lauren S. Babus,
201-307-2337, both of Hertz Corporation
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