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CNBC: Icahn purchases 30M-40M Hertz shares, cause of poison pill

  • CNBC reports that Carl Icahn has purchased 30M-40M shares (good for a 6.7%-8.9% stake) in Hertz, and is the activist to which Hertz responded with a poison pill. Previous reports had mentioned both Third Point and Corvex.
  • HTZ spikes +2.1% in reaction.
Comments (2)
  • Patent News
    , contributor
    Comments (1312) | Send Message
     
    hard to tell exactly what these three stellar investors are looking to do.

     

    what do you think?
    3 Jan, 11:36 AM Reply Like
  • RHMASSING
    , contributor
    Comments (224) | Send Message
     
    Since all of the three are making moves and they all have the reputation to push management of the co they get into, their motive is very clear: maximizing shareholder value. I doubt the enactment of the poison pill will deter them. With a combined shares of over 20% already, they can easily have other large funds join in for a proxy fight. In any case these activist fund managers have the same interest as the rest of us small shareholders. This kind of change of landscape is quite recent and is all good for small retail investors.
    3 Jan, 01:43 PM Reply Like
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