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US: Agreement that lead to Hertz/Dollar Thrifty merger now under scrutiny

By  |  April 5, 2013
US: Agreement that lead to Hertz/Dollar Thrifty merger now under scrutiny

Two sources have told reporters that the Federal Trade Commission has opened a probe into Macquarie Group Ltd.’s private-equity arm violated a consent decree when it acquired the Advantage car rental brand. Macquarie bought Advantage from Hertz Global Holdings, a sale that allowed Hertz to then acquire Dollar Thrifty Automotive Group and become the second-largest company in the market. Macquarie bought Advantage in a joint venture with Franchise Services of North America Inc. Now, the FTC is reportedly looking into whether Macquarie followed-through on agreements made with the authority to increase Advantage’s stance in the market as a competitor, especially as the deals consolidated the rental car market. The FTC declined to comment on the matter.

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