Deutsche Bank Comments on Rumored Hertz (HTZ) HERC Spiin-Off
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Hertz (HTZ) Approves Spin of Equipment Rental Unit
March 18, 2014 6:03 AM EDTThe Hertz Corporation (NYSE: HTZ) announced that its board of directors has approved plans to separate into two independent, publicly traded companies. The two companies will be "Hertz," comprised of the Hertz, Dollar, Thrifty and Firefly rental car businesses as well as Donlen, a provider of fleet leasing and management services, and "HERC," the Hertz Equipment Rental Corporation. The separation is planned to be in the form of a tax-free spin-off to Hertz shareholders, and the Company has received a Private Letter Ruling from the Internal Revenue Service that allows Hertz to separate the... More
Hertz Global (HTZ) Poised to Open Higher on HERC Spin-Off Rumors
March 17, 2014 7:49 AM EDTHertz Global (NYSE: HTZ) is poised to open higher Monday as it prepares to announce a spin-off of its equipment rental business (HERC), according to FT. The unit may be valued at $4.5 billion. An announcement is expected this week.... More
