Hertz Shares Climb As Carl Icahn Boosts Stake To 14.34%

By Sue ChangMarketWatch Pulse

Activist investor Carl Icahn has bought additional shares in Hertz Global Holdings Inc. , boosting his stake in the car rental company to 14.34%, according to a Securities and Exchange Commission filing. The total of 63.7 million shares, valued at $1.58 billion, were purchased through several entities associated with Icahn, including his investment firm Icahn Enterprises Holdings. The shares were bought on Monday at $14.23 a share, according to the disclosure. Hertz's stock slumped 3.7% on Tuesday to close at $13.70 and are down 45% year to date. However, the stock rallied in Tuesday's extended session to gain 3.7%.

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