Hertz drops Dollar Thrifty offer

Car rental firm Hertz yesterday withdrew its tender offer for shares in US peer Dollar Thrifty Automotive, but said it was still interested in buying its smaller rival if antitrust regulators clear the deal. Hertz cited Dollar Thrifty's share buyback plans and current market conditions for withdrawing the exchange offer, and said it would reassess the price and terms of a deal once it gets approval. Its last bid was worth $1.94bn.