M&A
confidence high
sentiment positive
materiality 0.90
Herc Holdings to acquire H&E Equipment Services for $78.75 cash + 0.1287 shares per share
HERC HOLDINGS INC
- Per H&E share: $78.75 cash + 0.1287 HRI shares; H&E board unanimously recommends tender.
- Termination fee: $144.8M payable by H&E for superior proposal; also must refund $63.5M URI fee.
- Committed $4.5B bridge facility from Credit Agricole; no financing condition in Merger Agreement.
- Offer subject to >50% tender, HSR clearance, and completed marketing period (up to 12 business days).