Hertz and Carl Icahn Make Peace

Carl Icahn on July 16 Photograph by Heidi Gutman/CNBC/NBCU Photo Bank via Getty Images

There won’t be any nasty, protracted proxy battle between Hertz Global Holdings and activist investor Carl Icahn. The rental car chain agreed on Thursday to give Icahn—who has amassed an 8.5 percent stake in the company—three board seats and to let two of those new independent directors help select its new chief executive officer.

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