Hertz (HTZ) in Focus as Activist Chatter Heats Up
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Just days after Hertz (NYSE: HTZ) adopted a shareholder rights agreement, rumors are swirling today that the company might be subject of an activist investor.
CNBC said that Carl C. Icahn might be the investor involved with Hertz. Speculation has Icahn purchasing anywhere from 30 million to 40 million shares of the company, or up to 8.9 percent of outstanding shares, though sources said the stake wouldn't be entirely in common stock.
Reports earlier in the week also had Third Point's Loeb and Convex's Meister taking positions in Hertz, though its not likely that all three investors would go after the same company.
Shares of Hertz popped Friday morning, but are now down 0.4 percent.
CNBC said that Carl C. Icahn might be the investor involved with Hertz. Speculation has Icahn purchasing anywhere from 30 million to 40 million shares of the company, or up to 8.9 percent of outstanding shares, though sources said the stake wouldn't be entirely in common stock.
Reports earlier in the week also had Third Point's Loeb and Convex's Meister taking positions in Hertz, though its not likely that all three investors would go after the same company.
Shares of Hertz popped Friday morning, but are now down 0.4 percent.
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