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3/4, 9:51 PM (Source: TeleTrader)
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Report: Lenders want to take Hertz public

JPMorgan Chase & Co., Fidelity Investments Inc. and several other unsecured lenders are planning to push Hertz Global Holdings to go public instead of accepting the existing plan to take the troubled company out of bankruptcy, the New York Post reported on Thursday.

The group, which owns more than 60% of Hertz's $4.6 billion corporate debt, is reportedly unhappy with the $4.2 billion offer made by Knighthead Capital Management LLC and Certares Management LLC.

Unless the bid is upped, the lenders plan to convert their debt into shares and "immediately list" the car rental firm on the stock exchange, the news organization said.

Breaking the News / MD