18.02.2025

Herc outbids United for H&E

US based Herc Rentals has confirmed that it has made a binding acquisition proposal for H&E Equipment Services, which tops the agreement it has with United Rentals. See: United to acquire H&E

Herc’s cash and stock offer is said to be worth $104.89 a share compared to United's $92.00 - a 14 percent premium. United Rentals has confirmed that it does not intend to submit a revised proposal. See: Herc outbids United for H&E

Herc chief executive Larry Silber said: “Since becoming an independent, public company in 2016, Herc has achieved tremendous success. Through greenfield development and strategic acquisitions, we have significantly increased our scale and expanded our geographic reach. Investments in our general rental and specialty equipment solutions offering as well as technology, innovation and people, have enhanced the customer experience and made Herc a partner of choice for local and national accounts across North America."

"We are pursuing the proposed combination with H&E from a position of strength and view it as a path to accelerate. Herc’s strategy and growth trajectory. Herc has tremendous respect for H&E and the high quality of the platform and customer centric culture of the organization. This combination would strengthen Herc’s position as a premier rental company in North America.”