Icahn Takes 8.5% Stake in Hertz; May Seek Talks, Board SeatJamie Butters
Carl Icahn, the activist investor, took an 8.5 percent stake in Hertz Global Holdings Inc., the billionaire said in a filing.
He plans to seek meetings with the company and may pursue representation on the board, according to the filing. He wants to discusss accounting issues and operational failures related to the company’s underperformance relative to peers and a “lack of confidence in management,” according to the filing.
Icahn, 78, who became an activist investor after gaining fame as a corporate raider in the 1980s, has recently taken large stakes at companies including Apple Inc., Family Dollar Stores Inc., Netflix Inc., EBay Inc. and Dell Inc., agitating management and directors for shareholder-friendly changes.
The New York-based investor is worth more than $23 billion, according to Bloomberg Billionaires, and primarily invests his own fortune, rather than relying on money from outsiders.