Herc Holdings Extends Tender Offer to Acquire H&E Equipment Services
Herc Holdings has extended its previously announced tender offer to acquire all of the outstanding shares of H&E Equipment Services Inc. common stock for $78.75 in cash and 0.1287 shares of Herc common stock for each H&E share, in each case without interest, pursuant to the terms of the previously announced merger agreement, dated February 19, 2025, between Herc, HR Merger Sub Inc. and H&E.
The offer, which was previously scheduled to expire at one minute past 11:59 p.m. Eastern Time, on April 15, has been extended until one minute past 11:59 p.m. Eastern Time, on April 29, 2025, unless further extended in accordance with the terms of the merger agreement. The offer was extended to allow additional time for the satisfaction of the remaining conditions of the tender offer, including receipt of applicable regulatory approvals.
Computershare Trust Company N.A., the depository and paying agent for the offer, has advised the company that as of close of business on April 15, 2025, approximately 17.9 million H&E shares have been validly tendered, representing 48.84% of the outstanding H&E shares, and an additional 385,504 H&E shares were tendered pursuant to guaranteed delivery procedures, representing an additional approximate 1.05% of the outstanding H&E shares.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.