Possible Vanguard-Dollar Thrifty Merger Fuels Speculation: Dollar Thrifty Stock Soars on Rumors, Closing Up $5.22 to $52.77

By Shepherd, Ginger | THE JOURNAL RECORD, February 15, 2007 | Go to article overview

Possible Vanguard-Dollar Thrifty Merger Fuels Speculation: Dollar Thrifty Stock Soars on Rumors, Closing Up $5.22 to $52.77


Shepherd, Ginger, THE JOURNAL RECORD


A potential $3 billion merger between Vanguard and Dollar Thrifty has left industry analysts speculating on what is driving the deal and who will emerge as leader.

The New York Times reported the possible merger Wednesday but had few details other than the deal value and that negotiations were still in a delicate stage.

Representatives from both Dollar Thrifty and Vanguard would not comment on the newspaper's story, or about the merger.

"We can't comment on market rumors or speculation," said Jason Logan, corporate communications manager at Dollar Thrifty.

News of the merger sent Dollar Thrifty's stock climbing $5.22 Wednesday, closing at $52.77.

The proposed merger makes a lot of sense at a time when the travel industry has come full circle, said Jake Dollarhide, chief executive officer of Tulsa-based Longbow Asset Management Co.

He pointed to airlines reporting profits and said the board rooms of auto rentals want to see profits as well. Dollar Thrifty recently announced that some Tulsa jobs would soon be outsourced. Dollar Thrifty employs 8,600 workers in the U.S. and Canada.

Fleet management may be drivers for the merger, said Dave Arney, an industry analyst with Vehicle Replacement Consulting Group in Michigan.

Car rental companies are faced with keeping their fleet numbers up. Each year, rental companies are allocated a certain amount of vehicles from manufacturers. …

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