H&E Equipment jumps after receiving takeover bid from Herc
18/02/2025 17:21
(Updates)
** Shares of rental equipment co H&E Equipment Services
HEES.O up 14.2% at $99.67
** Co receives an about $3.83 billion buyout proposal from
Herc Holdings HRI.N
** Herc offers $104.59 per share in cash and stock; offer
represents about 20% premium on H&E's last close on Friday
** Last month, rival United Rentals URI.N said it will
acquire H&E for $92 per share in cash
** URI says it does not intend to submit a revised takeover
bid in light of the new offer
** HEES stock fall 6.4% in 2024
(Reporting by Rupali Chaudhary in Bengaluru)
((Rupali.Chaudhary@thomsonreuters.com))
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