Carl Icahn Purchases as Many as 40 Million Hertz Global Shares

Last Friday, CNBC broke news that investor Carl Icahn might have bought as many as 30 to 40 million shares in Hertz Global Holdings Inc.

After observing unusual and substantial activity in its shares, Hertz announced Dec. 30 that its board of directors adopted a one-year shareholder rights plan. This “poison pill” policy is aimed to reduce the likelihood that any person or group would gain control of Hertz through open market accumulation, according to Hertz.

Through the shareholder rights plan, Hertz is issuing one preferred share purchase for each current share of common stock by Jan. 9. The rights will be applicable after a person or group acquires 10% or more of Hertz’s stock, says Hertz.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Understanding The Fleetification of Everything

As fleet miles increase exponentially, and as new stratum of fleet enter both consumer and business use cases, the "founding fathers" who gathered at Fleet Forward in Miami last week have some work to do.

The Problem with Valuing Safety Technology

As advanced safety technologies have migrated to mainstream vehicles, retaining value for these options at resale remains an issue.

ELD Mandate: Is Your Head Still in the Sand?

If you think you have 11 weeks to implement an Electronic Logging Device system to meet the Dec. 18 compliance deadline, you really don’t — for a few reasons.

Job Finder: Access Top Talent. Fill Key Positions.

>