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Hertz offers $2.24B for Dollar-Thrifty

Filed under: Etc., Government/Legal

Dollar-Thrifty

Hertz and Avis have been fighting to get their hands on Dollar-Thrifty for over a year now, with the latest volley coming from the Hertz camp. According to Bloomberg, the world’s largest airport rental car company has offered $72 per share for Dollar-Thrifty, or 24 percent more than a recent offer from Avis. The offer consists of of $57.60 in cash and .8546 Hertz shares per share of Dollar-Thrifty.

In September, Dollar-Thrifty rejected an offer from Hertz that added up to about $1.44 billion in cash and stocks. Avis had countered the last bid with an offer of $45.79 per share and .6543 of its shares. The two companies had decided to delay a deal while seeking regulatory approval, but we’re guessing Dollar-Thrifty is no longer interested in that deal. And since the bidding war seems to be escalating, some analysts feel that the Hertz bid is likely not the last to come from the competing rental car companies.

While both Avis and Hertz have so far come up empty in their bid to snap up their rival, the biggest winners so far have been Dollar-Thrifty shareholders. The stock has reportedly gone up 79 percent since Hertz first bid for the rental car giant back in April, which has worked to drive up the buy price for the company. A share of Dollar-Thrifty stock was worth only 63 cents early in 2009.

Hertz offers $2.24B for Dollar-Thrifty originally appeared on Autoblog on Mon, 09 May 2011 17:40:00 EST. Please see our terms for use of feeds.

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Video: Walter Röhrl spins a million-dollar Porsche 904… with us inside

Filed under: Classics, Videos, Porsche

Walter Rohrl spins a Porsche 904

Walter Röhrl spins a Porsche 904 – Click above to watch video

We’re currently bombing around Mallorca, Spain on the launch of the Porsche Cayman R, and to make up for the massive monsoon that’s coated the roads and nearly made a glorified go-kart track undrivable, our gracious hosts from Stuttgart brought out a legend. Actually, two of them.

None other than Walter Röhrl was flown in to show us “professionals” how a proper racing driver does it, and in between laps in the hotter, lightweight Cayman, the German racing legend took us for spin in something far more exotic.

According to Porsche, if there’s a vintage, racing equivalent of the Cayman R, it’s the historic Porsche 904, and this 911-powered 1965 example is one of only 20 ever made and came right from the personal garage of one of Ferdinand Porsche’s progeny. This particularly immaculate 904 is probably worth over $1 million, but that didn’t matter to Röhrl, who flung the featherweight (and seatbelt-less) coupe around the track with the kind of sideways fervor we’d expect from a World Rally Champion. Oh, and when we said “spin” we meant it. Follow the jump for the in-car footage, and excuse our incessant cackling – we’re still trying to pry the grin off our face.

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Video: Walter Röhrl spins a million-dollar Porsche 904… with us inside originally appeared on Autoblog on Wed, 02 Mar 2011 19:40:00 EST. Please see our terms for use of feeds.

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Monterey 2010: RM auction stacked with million dollar cars

Filed under: Classics, Auctions

RM Auction during Monterey car week

2010 RM Monterey Auction – Click above for high-res image gallery

RM Auctions always reserves its most prestigious cars for Saturday night during the Monterey car week, and this year’s lineup of vehicles was one of the most impressive in recent history. No less than 14 cars broke the million dollar mark, although the highlight of the auction, a 1958 Ferrari 250 TR, failed to meet its reserve price despite a $10.7 million offer on the table. Here’s a rundown of the million dollar cars at the auction:

Lot 359: 1938 Talbot-Lago T150-C Lago Speciale Teardrop Coupe – $4,620,000
Lot 351: 1954 Ferrari 375 MM Berlinetta – $4,620,000
Lot 353: 1949 Delahaye Type 175 S Roadster by Saoutchik – $3,300,000
Lot 360: 1959 Ferrari 250 GT LWB California Spyder – $2,612,500
Lot 347: 1955 Jaguar D-Type – $2,090,000
Lot 365: 2007 Ferrari FXX Evoluzione – $1,925,000
Lot 335: 1959 Ferrari 410 Superamerica Series III Coupe – $1,760,000
Lot 345: 1933 Packard Twelve Coupe – $1,622,500
Lot 346: 1958 Ferrari 250 GT Series I Cabriolet – $1,622,500
Lot 342: 1954 Ferrari 500 Mondial Berlinetta – $1,567,500
Lot 341: 1933 Duesenberg SJ Riviera Phaeton – $1,430,000
Lot 349: 1966 Ferrari 275 GTB/6C Alloy Berlinetta – $1,155,000
Lot 339: 1966 Ferrari 500 Superfast – $1,127,500

You can see the highlighted cars from RM’s auction in the high-res gallery below.

Gallery: 2010 RM Monterey Auction

1958 Ferrari 250 TR 1959 Ferrari 410 Superamerica Series III Coupe 1966 Ferrari 500 Superfast

Monterey 2010: RM auction stacked with million dollar cars originally appeared on Autoblog on Sun, 15 Aug 2010 14:58:00 EST. Please see our terms for use of feeds.

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