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David WelchFortune |
Bill Ackman’s Pershing Square Capital Management has amassed a nearly 20% stake in Hertz.
Dealers have seen a surge in demand from would-be buyers worried about prices.
GM said the buyback has no expiration date but that it aims to complete the first $2 billion in repurchases by the end of the second quarter.
The company’s shares fell 11% on Thursday to $251.46 as of Thursday morning.
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