(CNBC) Shares of car rental company Hertz Global on Wednesday skyrocketed by more than 50% after it selected a $6 billion turnaround bid that provides a rare payout to shareholders for a company in Chapter 11 bankruptcy. Investment firms Knighthead Capital Management and Certares Management, among others, won the bid to take over Hertz in its bankruptcy reorganization, which the company hopes to exit by the end of June.