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Icahn boosts Hertz stake, again

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  • | 10:00 a.m. January 2, 2015
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Carl Icahn recently boosted his stake in Hertz. Again.

Icahn's funds now own a total of 11.3% of the shares of the car-rental giant that moved its headquarters to Naples last year. The company is building a new corporate campus in nearby Estero.

Shares of Hertz (symbol: HTZ) rose nearly 6% on the day after Icahn disclosed his growing stake. On Dec. 22, shares closed at $22.57.

Earlier this year, Icahn led the investor-activist charge that spurred changes in the executive suite at Hertz. Mark Frissora, the Hertz chairman and CEO who engineered the company's relocation to Southwest Florida, resigned in September in the wake of accounting and operational problems.

After Icahn won three seats on the Hertz board in the fall, the company named former United Airlines executive John Tague as the new CEO. Icahn blessed Tague's appointment in late November and has continued to accumulate Hertz shares.


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