InsideArbitrage Event Driven Monitor – February 20, 2025

HEES: The acquisition of H&E Equipment Services, Inc. (HEES) by Herc Holdings Inc. (HRI), for a closing value of $5.66 billion. Under the terms of the agreement, Herc intends to commence a tender offer to acquire all of the outstanding shares of H&E common stock for a per-share value of $78.75 in cash and 0.1287 shares of Herc common stock, representing a total value of $104.89 per share. (Press Release)
HEES: United Rentals (URI) and H&E Equipment Services (HEES) agreed to terminate the Agreement and Plan of Merger. United Rentals also withdrew the tender offer as a result of the termination of the Merger Agreement. H&E will pay United Rentals a $63.52 million termination fee as per the terms and conditions of the Merger Agreement.
NARI: The acquisition of Inari Medical, Inc. (NARI) by Stryker Corporation (SYK) was completed on February 19, 2025. It took 44 days for the deal to be completed.

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