Deals
Hertz Adopts 1-Year Poison Pill After ‘Unusual’ Movements
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Hertz Global Holdings Inc. rose to a record high after the largest publicly traded U.S. rental-car company said it adopted a so-called poison pill upon seeing “unusual and substantial activity” in its stock.
Hertz shares climbed 10 percent to $28.62 at the close in New York after reaching $28.90. The board voted unanimously for the one-year shareholder-rights plan, which Hertz said wasn’t adopted in response to any specific takeover bid or proposal to acquire the company, according to a statement yesterday.