secwatch.observer — SEC 8-K summary
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Issuer:     H&E Equipment Services, Inc. (—)
CIK:        0001339605
Form:       8-K
Filed at:   2025-01-14T23:59:59+00:00
Accession:  0001193125-25-005785
Event type: m_and_a
Sentiment:  positive
Materiality: 0.95
Item codes: 1.01, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

United Rentals to acquire H&E Equipment Services for $92/share, ~$4.8B enterprise value
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- $92/share cash; enterprise value ~$4.8B incl. $1.4B net debt.
- H&E has ~160 branches, 2,900 employees, $2.9B fleet cost. TTM rev $1.518B, adj. EBITDA $696M.
- 35-day go-shop; termination fee $127M (standard) or $63.5M (go-shop related).
- Exec severance: 2x base salary + bonus if terminated w/o cause within 2 yrs post-close.
- Bylaws amended to add exclusive forum provisions for certain legal actions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1339605/000119312525005785/0001193125-25-005785-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1339605/000119312525005785/d866014d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-005785

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer