United Rentals announced on February 18, 2025, that it would no longer pursue the acquisition of H&E Equipment Services, Inc. The decision came after H&E notified United Rentals on February 16, 2025, that it had received a superior acquisition proposal from a strategic bidder, later identified as Herc Holdings Inc. United Rentals chose not to submit a revised proposal, reflecting its commitment to financial discipline.
Under the terms of the merger agreement, H&E is required to pay a termination fee of approximately $63.5 million to United Rentals. This fee compensates United Rentals for the terminated agreement.
Following the termination, United Rentals announced it would immediately restart its share repurchase program. Approximately $250 million of authorization remained on the company’s existing $1.5 billion share repurchase program, which will now be utilized to return capital to shareholders.
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