Hertz Secondary Offering Nets $1 Billion

The Carlyle Group, Clayton, Dubilier & Rice and Merrill Lynch have priced their secondary sale of 45 million shares of Hertz Global Holdings Inc. (NYSE: HTZ), at $22.25 per share. The $1 billion deal is expected to close Monday, and reduces the firms' combined stake in Hertz from 71.59% to 55.45 percent. www.hertz.com