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Jenner & Block represented Hertz Global Holdings, Inc. in the previously announced separation of Hertz’s equipment rental business. Herc Holdings Inc. now operates the equipment rental business and began trading on the New York Stock Exchange on July 1, 2016. In connection with the transaction, Hertz received cash proceeds of approximately $2 billion. Partner Thomas A. Monson led the team, which included Partners William L. Tolbert, Jeffrey R. Shuman, Raymond D. Sinnappan, Jason M. Casella, Donald E. Batterson and Jeffrey D. Larson, and Associates Alexander J. May, Jeremy A. Casper, Sarah E. Haddy, Hannah K. Costigan-Cowles and Sung San “Joe” Kim and Staff Attorney Barry J. Shulock.