H&E Equipment Services (HEES): $88.12
Market Cap: $3.23 Billion
Deal size: $4.8 Billion
United Rentals (URI) entered a merger agreement on January 14, to acquire smaller rival H&E Equipment Services in a deal valued at $4.8 billion, including debt. As per the agreement, United Rentals intends to commence a tender offer by January 28, 2025, to acquire all of the outstanding shares of H&E common stock for $92 per share in cash, representing a 109.38% premium over the stock’s last close.
H&E Equipment Services, based in Baton Rouge, Louisiana, provides equipment rentals, sales, parts, and maintenance services to industrial, commercial, and municipal customers. United Rentals is the largest equipment rental company in the world, offering a wide range of construction, industrial, and specialty equipment for rent, along with sales, repair, and maintenance services through its extensive network of locations across North America, Europe, Australia, and New Zealand.