Hertz Global Holdings plans to repurchase as much as $2bn of its common stock, the latest move to realign its finances just months after exiting bankruptcy protection.
The car rental company’s shares rose 6% to $25.30 in New York.
The buyback is effective immediately, the company said in a statement on Monday. It initially will include the remaining $200m that was authorised for repurchase at the time of Hertz’s Nasdaq listing earlier in November.
The Estero, Florida-based company…