United Rentals announced on January 28, 2025, that its indirect wholly-owned subsidiary, UR Merger Sub VII Corporation, commenced a cash tender offer to acquire all outstanding shares of H&E Equipment Services, Inc. The offer price is $92.00 per share, net to the holder in cash, without interest, less any applicable withholding taxes.
The tender offer is being made under the terms of the previously announced merger agreement dated January 13, 2025, and is set to expire one minute after 11:59 p.m., Eastern Time, on Tuesday, February 25, 2025. H&E's board of directors has recommended that its stockholders accept the offer and tender their shares.
The offer is not subject to any financing condition and is contingent upon customary conditions, including the tender of at least one share more than 50% of outstanding shares and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. This marks a formal step in the acquisition process.
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