Over the course of the past month or so, the car rental company Hertz Global Holdings Inc (OTCMKTS:HTZGQ) has been the subject of a bidding war.
Earlier this week, the company announced that it chose the consortium led by Certares Management and Knighthead Capital Management to acquire it so that Hertz could be taken out of bankruptcy. The development resulted in an 84% jump in the stock this week. On Thursday, the stock jumped by 12%.
This is a significant development for the company since after the completion of the deal Hertz Global is going to command an enterprise value of as much as $7.43 billion. There had been a heated bidding war for Hertz. A competing bid for the company had been made by a consortium headed by Centerbridge Partners, Dundon Capital Partners and Warburg Pincus. The deal is going to give the existing shareholders of Hertz Global $8 a share and that particular package made up as much as $240 million of the entire value of the deal.
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Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life