Mergers: Hertz, Too, Becomes a No. 2

In the rapidly growing and robustly competitive business of auto and truck rentals, Avis, Inc., makes much of the fact that it is only a hard-trying No. 2. Obviously, No. 1 is the Hertz Corp., with a rental fleet now totaling 125,000 vehicles. Hertz's familiar yellow signs are out in 98 countries, most recently including Finland, New Guinea and the Dominican Republic. Revenues this year will top $300 million.

Yet last week Hertz itself agreed to become a No. 2 of a sort. The rental firm's chairman, Leon C. Greenebaum, and Radio Corp. of America's chief executive, Elmer W. Engstrom,...

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