H&E accepts Herc Rentals' $5.3 billion bid, FT reports (updated)

United Rentals

18/02/2025 05:29

(Updates with details of the deal, background)
       Feb 18 (Reuters) - H&E Equipment Services  HEES.O  has
accepted a roughly $5.3 billion takeover bid from Herc Rentals,
rebuffing an earlier acquisition offer from equipment rental
rival United Rentals  URI.N , the Financial Times reported on
Tuesday.
    The proposal from Herc Rentals, a unit of Herc Holdings
 HRI.N , values H&E's shares at nearly $105 each — with 75% paid
in cash and the remainder in Herc stock, the report said.
    The offer is superior to United Rentals' bid, which valued
the company at $92 a share.
    Herc's cash-and-stock bid values H&E at nearly $500 million
more than United's all-cash offer, the report said.
    H&E, Herc Rentals and United Rentals did not immediately
respond to Reuters' requests for comment.

 (Reporting by Shivani Tanna in Bengaluru; Editing by Savio
D'Souza and Subhranshu Sahu)
 ((ShivaniJayesh.Tanna@thomsonreuters.com;))