Date:	--/--/-- --:--:--
Event Id:	E5CZM3QNQ
Action Type:	ACQUISITION
Action Status:	CANCELLED
Acquirer Symbol:
Target Symbol:	HEES
Updated:	--/--/-- --:--:--
Purchase Price Per Share:	92
Price Per Share Currency:	USD
News References:	https://www.businesswire.com/news/home/20250218821500/en/

Action Notes

United Rentals, Inc and H&E Equipment Services, Inc. d/b/a H&E Rentals today announced their entry into a definitive agreement under which United Rentals will acquire H&E for $92 per share in cash, reflecting a total enterprise value of approximately $4.8 billion, including approximately $1.4 billion of net debt. The transaction is not conditioned on the availability of financing. United Rentals has obtained bridge commitments to ensure its ability to close the transaction as soon as possible, with the expectation that it will use a combination of newly issued debt and/or borrowings and existing capacity under its ABL facility to fund the transaction and related expenses at close. The transaction is expected to close in the first quarter of 2025. The company plans to update its 2025 financial outlook to reflect the combined operations following the completion of the transaction. On 01/28, United Rentals commenced a tender offer to purchase all the outstanding shares of H&E $92 per share. The offer expires at midnight on 02/25 unless extended.United Rentals, Inc. Will No Longer Pursue the Acquisition of H&E Equipment Services, Inc.