Hertz Forms Committee to Study Ford Proposal
The Hertz Corp. announced on Sept. 26 that its board of directors has formed a special committee to consider the previously announced proposal from Ford Motor Co. to acquire, through a merger, all of the outstanding shares of Hertz's stock that are not currently owned by Ford at a cash price of $30 per share of Hertz Class A common stock. Ford currently owns approximately 81.5 percent of Hertz's common stock.
The special committee comprises of Louis Burnett, managing partner, Secura Burnett Co. LLC; Michael Monahan, president, Monahan Enterprises, LLC and chairman, Munder Capital Management; and John Thompson, vice chairman of the board, IBM Corp.
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