Seeking Alpha

Hertz confirms spin-off of equipment-rental ops

  • Hertz (HTZ) plans to spin off its equipment-rental business for $2.5B, confirming a report from earlier this week.
  • Hertz intends to use some of the money from the move to fund a $1B share repurchase program and repay debt. (PR)
  • Q4 results
  • Shares +2.8% premarket.
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