US:Ford plan to sell Hertz gets antitrust approval
Ford plan to sell Hertz gets antitrust approval
WASHINGTON -- U.S. antitrust authorities said on Wednesday they had approved Ford Motor Co.'s plans to sell its rental subsidiary Hertz Corp. to a private equity group.
Officials have closed their investigation of the deal without taking action, the Federal Trade Commission said in a notice.
Ford announced in September that it would sell all of its Hertz shares to a private equity group composed of Clayton Dubilier & Rice, Carlyle Group and Merrill Lynch Global Private Equity. At the time, Ford valued the transaction at $15 billion, including debt, and said it expected the deal to close by year end.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....