Reported 3 days ago
H&E Equipment Services has terminated its agreement with United Rentals to accept a more lucrative cash-and-stock bid from Herc Holdings, which is valued at $104.89 per share, representing a 14% premium over the prior offer from United Rentals. Following this announcement, United Rentals opted not to increase its original offer of $92 per share, while H&E faces a $63.5 million termination fee as a result of the deal switch.
Source: YAHOO