Blackstone and Carlyle Buyout Groups Submit Rival Bids for Hertz
PARK RIDGE, NJ — Blackstone Group LP and Carlyle Group are part of buyout groups that are making rival takeover bids for Hertz Corp., the rental car unit of Ford Motor Co., according to the Bloomberg News Service.
PARK RIDGE, NJ — Blackstone Group LP and Carlyle Group are part of buyout groups that are making rival takeover bids for Hertz Corp., the rental car unit of Ford Motor Co., according to the Bloomberg News Service. Hertz may sell for as much as $10 billion, including debt, in what would be among this year’s big-gest U.S. leveraged buyouts. Ford said in April it may sell Park Ridge, New Jersey-based Hertz. The buyout groups are competing to purchase a company whose second-quarter net income rose 3 percent to $97 million. Ford’s earnings, by contrast, dropped 19 percent. Selling Hertz is part of Ford’s plan to raise funds as it loses market share in the U.S. to Asian automakers led by Toyota Motor Corp. New York-based Blackstone is bidding for Hertz with Texas Pacific Group, Thomas H. Lee Part-ners LP, and Bain Capital Partners LLC, while Washington-based Carlyle is teaming with Clayton Dubilier & Rice Inc. and Merrill Lynch & Co.’s buyout unit, according to the Bloomberg News Service report.
More Operations

Here's When You Should Make an Exception to Fleet Policy
Fleet policies are designed to create consistency, but not every driver or situation fits neatly within standard rules.
Read More →
AI-Native or AI-Acquired: What Should Fleet Managers Look for in an AI Platform?
Six questions can help fleet managers look beyond AI marketing claims to evaluate integration, data access, and real-world operational performance.
Read More →
A buyer's guide to fleet management software in 2027
Buying fleet management software in 2027 means looking beyond features and price. As fleet operations, technology and expectations evolve, this guide explores what today’s fleet professionals should consider when choosing a system that can deliver value now and adapt to what comes next.
Read More →
What Will Shape the Next Era of Fleet Management?
EVs, AI, and autonomous vehicles are reshaping fleet management. Discover what’s ahead—and how fleet leaders can prepare for the next era.
Read More →
How Fleets Can Recruit and Train Veterans for Technician Roles
Here's how the technician shortage has affected uptime for fleets, and what to do about it.
Read More →
Avis Budget Group Deploys Neology Toll Management Technology Across Major Brands
Neology’s neoFleet platform will manage toll transactions and toll-authority operations for vehicles across Avis, Budget, Payless, Budget Truck and Zipcar.
Read More →
Fleet Personal-Use Charges Edge Higher in 2026
Nearly eight in 10 surveyed fleets allow personal use of company vehicles, while just over half of respondents report charging employees for the privilege.
Read More →
The Future of Fleet + What’s Changing Right Now | AF News Recap
Could developments overseas offer a preview of what’s coming for U.S. fleets? This week, we’re looking at the future of AI, autonomy, and electrification, plus Ford Pro’s new certified pre-owned program, smarter vehicle offboarding, and a new way for fleets to manage toll expenses.
Read More →
How to Handle Vehicle Offboarding
What do fleet managers need to do when a driver leaves?
Read More →
Fleet Manager’s Ultimate Playbook: Navigating the New Standard in OEM Connectivity
Rising operating costs, driver safety concerns, and unplanned downtime are putting unprecedented pressure on modern fleets. Discover how fleet managers use embedded OEM connectivity and real-time vehicle data to cut TCO, prevent downtime, and protect drivers without aftermarket telematics hardware.
Read More →
