Hertz gets sweetened offer from rival bidder
Car rental company is evaluating proposal from two investment firms to see how it rates against one from its reorganisation sponsor
03 May 2021 - 19:43
New York — Investment firms Knighthead Capital Management and Certares Management submitted a sweetened offer to buy Hertz Global Holdings out of bankruptcy in a deal that could see equity investors recover $2.25 (R32.40) a share.
Hertz will evaluate the proposal that assigns the rental car company at more than $6.2bn enterprise value to determine if it is higher than one from its current reorganisation sponsor, a group backed by Centerbridge Partners, according to people with knowledge of the matter who asked not to be named because the bid is not yet public...
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