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Hertz Drops Deutsche

Hertz Global Holdings has dropped Deutsche Bank Securities as an underwriter of Hertz's upcoming $1.6 billion IPO. The move came after Hertz discovered that a Deutsche employee had forwarded an apparently-improper email to around 175 institutional clients. Hertz was bought out from Ford Motor Co. last year for around $15 billion by Clayton, Dubilier & Rice, Carlyle Group and Merrill Lynch Global Private Equity.