Herc Holdings Inc. and H&E Equipment Services have officially announced the expiration of their recent tender offer aimed at acquiring shares of H&E. The proposal, which promised $78.75 in cash alongside a fraction of Herc’s own shares for every H&E share, saw nearly 69.33% of outstanding shares tendered. The acquisition is set to close on June 2, 2025, ultimately resulting in H&E becoming a wholly-owned subsidiary of Herc.
Key Points
- The tender offer expired on May 29, 2025, with 25,369,090 H&E shares tendered.
- The acquisition is expected to be completed on June 2, 2025, pending all conditions being met.
- H&E shares will cease trading on the Nasdaq following the merger, which consolidates it as a subsidiary of Herc.
- Herc will pay for all tendered shares upon closing, in line with the agreed offer terms.
- The merger is projected to create operational synergies, aiming for enhanced efficiency and growth opportunities for both companies.
Why should I read this?
If you’re keeping an eye on the equipment rental industry or interested in how mergers shape market dynamics, this one’s for you! Herc Holdings’ acquisition of H&E is a big deal that could signal shifts in the sector and affect competition. We’ve done the reading, saved you some time, and highlighted what’s crucial here!