Hertz in crosshairs of investor Carl Icahn
CAPE CORAL, Fla. - Hertz finds itself the target of activist investor Carl Icahn according to the business network CNBC.
The network is reporting Icahn has purchased 30 million to 40 million shares of Hertz.
Icahn may be the target a the poison pill Hertz put into place Monday. The company put in a 10% trigger, reducing the chances that any individual shareholder or group can gain control of Hertz by buying up shares.
The company implemented the poison pill strategy on Monday when it noticed "unusual and substantial" trading activity.
Hertz stock has risen almost 60 percent in the last year.
A Hertz spokesman says the Icahn position will not change the company's plan to build its new headquarters in Estero.