H&E Equipment Services sale proceeds
Herc Holdings and H&E Equipment Services announce expiration of the tender offer to acquire shares of H&E Equipment Services and expected closing date.
Herc Holdings Inc. and H&E Equipment Services, Inc. d/b/a H&E Rentals announced May 30, 2025 the expiration of the tender offer to exchange each outstanding share of H&E common stock for $78.75 in cash and 0.1287 shares of Herc common stock, in each case without interest, pursuant to the terms of the previously announced merger agreement.
The offer, which was extended on May 23, 2025, expired at one minute past 11:59 p.m. Eastern Time on May 29, 2025. As of the expiration of the offer, a total of 25,369,090 H&E shares were validly tendered and not validly withdrawn in the offer, representing approximately 69.33 percent of the outstanding H&E shares.
As of such expiration, all conditions to the offer have been satisfied or waived and merger sub has accepted for payment all H&E shares validly tendered and not validly withdrawn in accordance with the terms of the offer.
Herc, Merger Sub and H&E currently expect to close the acquisition on June 2, 2025. At the closing, Herc and Merger Sub will pay for all of the tendered shares. Additionally, the parties will consummate the merger of Merger Sub with and into H&E. As a result of the merger, all of the H&E shares other than the tendered shares will be converted into the right to receive the offer price in accordance with the terms of the merger agreement.
As a result of the offer and the merger, H&E will become a wholly-owned subsidiary of Herc and H&E shares will cease trading on Nasdaq.
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