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Letter to the Editor
Wednesday January 17
Ford to Buy Remaining Hertz Stake
NEW YORK -- Ford Motor Co. has agreed to acquire all publicly held shares of Number One car rental company Hertz Corp. it does not already own for $35.50 a share, or $710 million, up from a September offer of $30 a share, the companies said on Tuesday.
Dearborn, Mich.-based Ford currently owns about 81.5 percent of the outstanding shares of Park Ridge, N.J.-based Hertz, and public shareholders own the remaining 18.5 percent, the companies said in a joint statement.
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