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Icahn has built up Hertz stake: CNBC
January 3, 2014 / 4:47 PM / 4 years ago

Icahn has built up Hertz stake: CNBC

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.

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

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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