Hertz will give up some airport locations in exchange for the FTC’s approval to buy Dollar Thrifty
Skift Take
Hertz has offered various concessions to snag its competitor, but the FTC’s fears transcend this one deal, which is serving as a prime example of the extreme consolidation of the rental car industry over the past decade.
Hertz Global Holdings Inc. (HTZ +7.26%) has tentatively agreed to shed about a dozen locations at U.S. airports in a concession aimed at winning U.S. regulatory approval for its proposed acquisition of rival Dollar Thrifty Automotive Group Inc., (DTG +5.40%) according to people familiar with the negotiations.
By offloading airport locations, Hertz aims to allay Federal Trade Commission concerns that a combination of the rental-car giants could hurt consumers by giving the joint company too much control over the rental-car market, particularly at airports.
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