HEES Overview

Tender Offer Expiration: Herc Holdings Inc. and H&E Equipment Services announced the expiration of their tender offer for H&E shares, with 69.33% of outstanding shares validly tendered by the deadline on May 29, 2025.

Merger Completion Anticipation: The companies expect to finalize the acquisition on June 2, 2025, after which H&E will become a wholly-owned subsidiary of Herc, and its shares will cease trading on the Nasdaq Stock Market.

Tender Offer Extension: Herc Holdings Inc. has extended its tender offer to acquire H&E Equipment Services, offering $78.75 in cash and 0.1287 shares of Herc common stock for each H&E share, now set to expire on May 29, 2025.

Current Tender Status: As of May 22, 2025, approximately 67.72% of H&E's outstanding shares have been validly tendered, with additional shares submitted through guaranteed delivery procedures.

Dividend Announcement: H&E Equipment Services, Inc. has decided not to declare a regular quarterly cash dividend for June 2025 due to ongoing progress with its merger with Herc Holdings, expected to close in early June.

Company Overview and Risks: H&E Rentals is a major equipment rental company with a diverse fleet serving various markets; however, it faces numerous risks including economic conditions, supply chain issues, and uncertainties related to the merger.

Acquisition Clearance: Herc Holdings Inc. has received clearance under the Hart-Scott-Rodino Antitrust Improvements Act to proceed with its acquisition of H&E Equipment Services, expected to close by early June 2025.

Stock Performance: Following the announcement, Herc's stock is trading at $133.45, reflecting a decrease of 0.74 percent on the New York Stock Exchange.

Herc Holdings Acquisition Update: Herc Holdings announced that the waiting period for its acquisition of H&E Equipment Services has expired, with plans to close the deal early next month pending majority shareholder approval.

Financial Performance Expectations: Herc anticipates a 5% growth in rental revenue for Q1 2025, supported by ongoing mega project expansions, and reported a non-GAAP EPS of $1.30 with revenues exceeding expectations.

Tender Offer Extension: Herc Holdings Inc. has extended its tender offer to acquire H&E Equipment Services, with the new expiration date set for May 22, 2025, to allow time for regulatory approvals and other conditions to be met.

Current Tender Status: As of May 7, 2025, approximately 32.73% of H&E's outstanding shares have been validly tendered in the offer, indicating a significant interest from shareholders in the acquisition deal.