10:04 AM EST, 02/19/2025 (MT Newswires) -- (Updates with termination fee in the fourth paragraph.)

Herc Holdings ( HRI ) and H&E Equipment Services ( HEES ) said Wednesday they have signed a deal under which Herc ( HRI ) will acquire H&E following the termination of the latter's prior merger agreement with United Rentals ( URI ) .

H&E shareholders will receive $78.75 in cash and 0.1287 Herc ( HRI ) common shares for every share they own, the companies said.

Following deal completion, anticipated mid-year 2025, H&E stockholders will own nearly 14.1% of the combined company, they added.

Herc ( HRI ) said it paid a termination fee of around $63.5 million to United Rentals ( URI ) on behalf of H&E, as part of the terms of H&E's prior agreement with United Rentals ( URI ).

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