Dec 31 Activist investor Daniel Loeb's Third
Point Capital LLC has taken a stake of less than 5 percent in
Hertz Global Holdings Inc, the second largest U.S. car
rental company, CNBC reported.
Hertz shares rose as much as 9 percent on Tuesday morning.
The company said on Monday that it had adopted a 'poison
pill' plan after observing "unusual and substantial activity" in
The shareholder rights plan will be activated if any person
or group acquired 10 percent or more of Hertz's stock.
Third Point was not immediately available for comment.
The fund, which owns 7.48 percent total stake in Sony Corp
, has been pushing for the electronics giant to
partially spin off its lucrative entertainment business.
Third Point also invested $1 billion in Softbank Corp
Hertz shares were up 8 percent at $28.07 on the New York
The stock had risen 58 percent this year to Monday's close,
while shares of rival Avis Budget Group Inc's almost
doubled in the period.