Hertz Soars on Report Pershing Square Owns About 19.8% (2)

Hertz Global Holdings Inc. shares jumped more than 40% in the postmarket session, extending gains from a 56% rally in regular trading, after CNBC’s Scott Wapner reported on air that Bill Ackman’s Pershing Square holds about a 19.8% stake in the rental-car company, citing a person familiar with the matter.

• The 19.8% stake would make Pershing the second-largest shareholder in Hertz
  • Pershing’s 19.8% in Hertz is through shares and swaps
  • Pershing received a confidential treatment provision from the SEC, allowing it to delay the filing beyond the normally required reporting period
• Shares extended gains in regular trading after the ...