m_and_a
confidence high
sentiment neutral
materiality 0.85
H&E Equipment acquired by Herc Holdings; shareholders get $78.75 cash + 0.1287 Herc shares/share
H&E Equipment Services, Inc.
- Tender offer expired May 29, 2025; 69.33% of shares tendered, plus 3.06% via guaranteed delivery.
- On June 2, 2025, Herc completed merger; HEES becomes wholly owned subsidiary; stock delisted from Nasdaq.
- Credit agreement terminated; 3.875% Senior Notes due 2028 redeemed in full with proceeds from acquisition.
- Former officers and directors resigned; new directors and officers from Herc appointed effective June 2, 2025.
- Executives received accelerated vesting of equity awards and severance under separation agreements.
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