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JPMorgan’s refusal to increase Hertz bid costs co-investors billions

JPMorgan’s refusal to increase its bid for Hertz in a bankruptcy auction this spring — despite pressure from co-investors — now looks like a multi-billion dollar mistake as the rent-a-car industry revs back to life, a source said. The bank, which owned most of Hertz’s debt, wouldn’t raise its bid in the May 12 bankruptcy…
Source: NY Post click here for more…

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