Reported 10 months ago
Some holders of Hertz Global Holdings Inc. warrants are demanding a payout of around five times the current stock price, claiming a change of control event was triggered by the company’s debt issuance and share buybacks. The holders argue that Hertz must redeem the warrants at $20.47 each, as per the change of control clause. Hertz has hired a law firm in response, stating the demand is frivolous.
Source: YAHOO