Billionaire investor Carl Icahn has acquired an 8.48% stake in Hertz Global Holdings, Inc. (HTZ), according to a Securities and Exchange Commission filing.
The activist investor indicated in the filing that he “acquired [the] positions in [Hertz shares] in the belief that they were undervalued”. He also said he plans to seek meetings with the company and may “seek shareholder board representation if appropriate”, according to the filing
Icahn, who is worth more than $23 billion, according to Bloomberg Billionaires, has recently taken large positions at companies including Apple (AAPL), Family Dollar (FDO), Netflix (NFLX) and EBay Inc (EBAY), agitating management and directors by fighting for board representation and strategic shareholder-friendly changes.
Shares in Hertz surged more than a point when the filing was first reported Wednesday afternoon.