The car hire firm Hertz has increased its offer to 1.43 billion dollars for Dollar Thrifty in cash and shares as it was in a battle with its rival Avis to take over the company. The offer now stands at 50 dollars per share of Dollars Thrifty.

The previous offer from Hertz was 41 dollars per share which was agreed in April but that was broken by the rival firm Avis with 47 dollars per share offer. The Dollar Thrifty board has rejected the offer of Avis at that time.

Hertz operates in highest number of sites in the US than any other car hiring firm but this deal will raise its presence by another third of the market. Hertz is aiming to increase its share in the tourist rental market by taking over Dollar Thrifty.

Dollar Thrifty had generated revenues of 1.55 billion dollars in 2009 mainly from the tourist rentals while Hertz made half of its total revenues of 7.1 billion dollars from its business client hiring. For this reason Hertz is eying to expand its business to the tourist rental level through Dollar Thrifty.