Icahn has built up Hertz stake: CNBC

NEW YORK Fri Jan 3, 2014 11:46am EST

Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference at the New York Stock Exchange in this June 27, 2007 file photograph. REUTERS/Chip East/Files

Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference at the New York Stock Exchange in this June 27, 2007 file photograph.

Credit: Reuters/Chip East/Files

NEW YORK (Reuters) - Billionaire investor Carl Icahn has acquired between 30 and 40 million shares in Hertz Global Holdings Inc (HTZ.N) and his stake-building was the reason the car rental company bolstered its takeover defenses, CNBC reported Friday, citing unidentified sources.

The business TV broadcaster also said part of Icahn's stake took the form of derivatives rather than common shares.

Shares in Hertz, which on Monday said it had adopted a "shareholder rights" plan after observing "unusual and substantial activity" in its shares, were up 1.7 percent.

Icahn was not immediately available to comment.

(Reporting By Christian Plumb and Sam Forgione; Editing by Grant McCool)

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