secwatch.observer — SEC 8-K summary
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Issuer:     HERC HOLDINGS INC (HRI)
CIK:        0001364479
Form:       8-K
Filed at:   2025-02-18T23:59:59+00:00
Accession:  0001193125-25-028712
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1364479/000119312525028712/0001193125-25-028712-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1364479/000119312525028712/d851550d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-028712

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