U. S. car rental firm Hertz Global Holdings Inc is revealed to have extended its final decision to acquire smaller rival Dollar Thrifty Automotive Group Inc. under a deal worth $1.2 billion, seeking to make a strong presence in the leisure rental market in Europe and elsewhere.

Hertz revealed that the deal will grant it have a further 1,550 additional locations, raising the total to 9,800.

The deal is cited to prove as a strong consolidation for the car rental industry, which is recuperating from its wounds due to the global economic turmoil, triggered by an improvement in travel and the used car market.

Hertz posted that its bid values Tulsa, Okla.'s Dollar Thrifty at $41 per share, a 5.5% premium to Friday's closing price of $38.85. The deal is revealed to include 80 percent cash and 20% Hertz stock.

In a separate statement, Hertz uncovered that its adjusted earnings outlook for 2010 to 43 cents to 45 cents a share from 37 cents to 39 cents a share, signifying a marked improvement in the business scenario.

Hertz shares registered a $12.88 closing level on Friday on the New York Stock Exchange.