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Thursday, April 16, 2009
Hertz Buy Advantage Rent A Car For $33M
Hertz Global Holdings Inc. (HTZ) will buy Advantage Rent A Car for $33 million, after the rental-car company's bid won out over another offer for the company.Advantage, suffering along with the rest of the sector from the weak economy and tight credit, filed for Chapter 11 bankruptcy protection in December. The company, which posted 2008 revenue of $146 million, has 20 locations, down from 140 at
Labels:
Auto/Motor Cars,
car rental,
Hertz,
Rent a Car,
US Automotive