Icahn boosts Hertz stake

Corporate boards tremble when Carl Icahn buys stock.

The New York financier targets struggling companies and shakes up management in the hopes of unlocking hidden value. Often, board and management battles erupt as a result of his aggressive moves.

But it was good news when Icahn recently acquired more shares of car rental giant Hertz. The stock of the company jumped 6% June 7, the day Icahn disclosed he boosted his stake to 15.24% of the Estero-based company.