Rental-car company Hertz, which filed for bankruptcy in May, can sell new stock in public markets, a judge ruled
A bankruptcy judge on Friday allowed Hertz Global Holdings Inc. to raise new equity from a counterintuitive stock rally while under severe financial strain.
The car-rental company hopes to raise up to $1 billion in new equity, a seemingly unprecedented move from a large bankrupt company eager to capitalize on market anomalies.
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