After the Federal Trade Commission’s investigation of Hertz Global Holdings, Inc.’s purchase of Dollar Thrifty Automotive Group Inc., the FTC announced that the parties entered into a settlement, where Hertz will sell some of its holdings in order to relieve FTC’s antitrust concerns. FTC began its investigation of the purchase out of fears that the merger would eliminate head-to-head competition in certain airports by eliminating one of Hertz’ close competitors. According to the FTC, the merger would make it easier for the combined company to increase rates by reducing the U.S. major car rental agencies from four to three, making anti-competitive coordinated conduct amongst them more likely. Under the settlement, Hertz will have to sell its entire Advantage Rent A Car business and 16 Dollar Thrifty airport locations to Macquarie Capital Inc. and Franchise Services of North America, and will sell another 13 Dollar Thrifty airport locations after the deal closes. This settlement will enable Advantage to become U.S.’s fourth-largest car rental company, thereby stimulating more competition in the market.