U.S. car rental firm Hertz Global Holdings Inc said it agreed to acquire smaller rival Dollar Thrifty Automotive Group Inc for $41 a share in a cash-and-stock deal as it looks to boost its presence in international markets.

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Hertz to buy Dollar Thrifty for about $1.2 billion

Prices have dropped 25% in the last year, according to a Business Travel News annual survey. Los Angeles is a maddening labyrinth of freeways and streets, spread out over an area the size of a small European nation.

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Rental car costs fall in Los Angeles

The deal would united two of the biggest names in the rental car business. DealBook’s full coverage of the court-appointed examiner’s autopsy of the investment bank.

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Posts published on April 26th, 2010