Business

Hertz lets FTC mull Dollar Thrifty deal

Hertz yesterday gave regulators more time to review its proposed merger with Dollar Thrifty Automotive Group.

If the car rental agency didn’t extend the deadline, the Federal Trade Commission was prepared to block the deal, a source said.

Hertz, nearly five years after starting its pursuit of Dollar Thrifty, reached an August deal to buy its rival for $2.6 billion.

One issue still to be debated by the FTC is which airports Hertz might have to exit to win approval, a source close to the situation said.

“Hertz knows what it has to do,” the source said.

Hertz agreed to extend the deadline for the FTC decision from Oct. 31 to Nov. 16.

The New Jersey car renter said it was assisting the FTC in its review of the relevant information and continuing to work with the FTC to address matters raised by the commissioners and staff.

Hertz shares fell less than 1 percent, to $14.73; Dollar Thrifty dropped 2 percent, to $85.11. Hertz and the FTC did not return calls.