---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-028712"
form_type: "8-K"
ticker: "HRI"
cik: "0001364479"
company_name: "HERC HOLDINGS INC"
filed_at: "2025-02-18T23:59:59+00:00"
generated_at: "2026-05-26T15:16:42.626719+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Herc Holdings proposes to acquire H&E Equipment Services for $104.89/share in cash and stock

## Summary
- Herc offers $78.75 cash + 0.1287 Herc shares per H&E share, total $104.89, a 14% premium to United Rentals' $92.00 cash bid.
- H&E board deemed proposal superior; United Rentals waives match period, will not submit revised bid.
- Combined company to have >600 locations, ~$10B fleet OEC, $5.2B revenue, $2.5B EBITDA; net leverage 3.8x at close.
- Expected ~$300M annual EBITDA synergies (cost $125M, revenue $175M) by year 3; high-single-digit cash EPS accretive in 2026.
- Transaction expected to close mid-2025; subject to regulatory approvals and tender condition; no financing contingency.

## SEC filing metadata
- accession: 0001193125-25-028712
- form_type: 8-K
- ticker: HRI
- cik: 0001364479
- company_name: HERC HOLDINGS INC
- filed_at: 2025-02-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1364479/000119312525028712/0001193125-25-028712-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1364479/000119312525028712/d851550d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-028712
- JSON: https://secwatch.observer/filing/0001193125-25-028712.json
- Plain text: https://secwatch.observer/filing/0001193125-25-028712.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.