Activist investor Carl Icahn and his affiliate firms increased their stockholding in Hertz Global Holding based on their latest 13D filing with the Securities and Exchange Commission (SEC).
The filing showed that Mr. Icahn and his affiliates beneficially own a total of 63,709,083 shares or approximately 14.34% of the outstanding shares of Hertz Global Holdings. They purchased their stake for approximately $1.58 billion including commissions and premiums for options to purchase shares.
The activist investor and his affiliates previously held 51,922,405 shares of the company based on his 13F filing with the SEC on September 30.
Investment details
On December 7, High River Limited Partnership, Icahn Partners, and Icahn Partners Masters Fund bought additional 11,786,678 shares of Hertz Global Holdings for $14.23 each.
High River has sole voting power and sole dispositive power with regard to12, 741, 819 shares of the company. Each of Hopper Investment LLC, Barberry Corp., and Mr. Icahn has shared voting power and shared dispositive power to those shares.
Icahn Master has sole voting power and sole dispositive power concerning 20,917,437 shares of Hertz Global Holdings. Each of Icahn Offshore, Icahn Capital, IPH, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton and Mr. Icahn has shared voting power and shared dispositive power with those shares.
Icahn Partners has sole voting power and sole dispositive power concerning 30,049,827 shares. Each of Icahn Onshore, Icahn Capital, IPH, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton and Mr. Icahn has shared voting power and shared dispositive power to those shares.
Hertz offered three Board seats to Icahn
In September last year, Hertz Global Holdings offered three Board seats to Mr. Icahn and his affiliates. As part of the agreement, Vincent J. Intrieri, Samuel Merksamer, and Daniel A. Ninivaggi were appointed as new independent directors to the company’s Board.
Mr. Icahn believes that Hertz Global Holdings is a “great company and a great brand.”
Yesterday, Hertz Global Holdings announced that it was recognized as the world’s Best Car Rental Company by two top travel industry awards—the Global Traveler GT Tested Reader Survey Awards and the Business Traveler Magazine’s 2015 Best in Business Travel Awards.
The stock price of Hertz Global Holdings rose more than 2% to %14.01 per share at the time of this writing, around 1:09 in the afternoon in New York on Wednesday.
