Dollar Thrifty announced on Tuesday.
"While Hertz's
May 2011 exchange offer remains outstanding and on
Oct. 7, 2011, Hertz's CEO called me personally to reaffirm their commitment to
pursuing the acquisition of Dollar Thrifty, the fact remains that they have not
made a proposal that addresses our board's requirements," according to Dollar
Thrifty president and CEO Scott Thompson. In an August request for potential
bidders to submit their best and final offers, Dollar Thrifty included a caveat
"that any proposal that did not eliminate the antitrust regulatory risk of
the transaction for its shareholders would not likely be acceptable."