Carl Icahn has purchased 30 million to 40 million shares of Hertz Global Holdings, Inc. (NYSE:HTZ), according to sources familiar with the situation. Carl Icahn is the target of the poison pill Hertz put into place on December 30, 2013, the sources said. The sources also noted that Icahn's position is not entirely in common stock and includes some derivatives reflecting shares in Hertz.

Shares of Hertz rose by 10.5% on December 31, 2013 and were down 0.6% on January 3, 2014.