secwatch.observer — SEC 8-K summary
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Issuer:     HERC HOLDINGS INC (HRI)
CIK:        0001364479
Form:       8-K
Filed at:   2025-02-19T23:59:59+00:00
Accession:  0001193125-25-029600
Event type: m_and_a
Sentiment:  positive
Materiality: 0.95
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Herc Holdings to acquire H&E Equipment Services for $104.89/share; expects $300M EBITDA synergies
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- Herc acquires H&E for $78.75 cash + 0.1287 Herc shares per share; total value $104.89/share (10-day VWAP).
- H&E shareholders will own ~14.1% of combined company; transaction expected to close mid-2025.
- Expected $300M annual EBITDA synergies by year 3: $125M cost, $175M revenue; accretive >20% to cash EPS.
- Pro forma combined revenue ~$5.2B, EBITDA ~$2.5B; net leverage 3.8x at close, below 3.0x in 24 months.
- Herc paid $63.5M termination fee to United Rentals on behalf of H&E.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1364479/000119312525029600/0001193125-25-029600-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1364479/000119312525029600/d866359d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-029600

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