United Rentals, Inc. (URI) entered a merger agreement on January 14, 2025, to acquire smaller rival H&E Equipment Services, Inc. (HEES) 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 from the stock’s last close.