Hertz Share Soar After Ackman Takes Big Stake
Shares of Hertz HTZ 14.11%increase; green up pointing triangle Global Holdings surged after hedge-fund manager Bill Ackman's firm disclosed a significant stake in the rental-car company.
The Ackman-led Pershing Square Capital Management said in a securities filing on Wednesday that it has accrued 12.7 million shares of Hertz stock. That represents about 4.1% of the company's 307.9 million outstanding shares, according to FactSet.
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