Hertz Global Holdings Inc. won final approval from the Federal Trade Commission for its $2.3 billion acquisition of Dollar Thrifty Automotive Group Inc.
Thursday’s announcement by the FTC comes eight months after the agency allowed the transaction to proceed provisionally on the condition that Park Ridge, N.J.-based Hertz sell its Advantage brand and 29 other rental counters.
The FTC’s aim was to create a viable competitor to closely held market leader Enterprise Holdings Inc., No. 2 Hertz, and Avis Budget Group Inc.
The FTC said Thursday that it made slight changes to the order, including requiring the divestiture of the Dollar Thrifty location, instead of the Advantage desk, at Ronald Reagan Washington National Airport. The order also includes staffing changes and changes in the dates by which Hertz must transfer some locations to the buyer.
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