United Rentals Abandons $3.4 Billion Deal for H&E Equipment

United Rentals has officially abandoned its $3.4 billion acquisition plan for H&E Equipment Services after H&E received a superior offer from Herc Holdings. Herc's bid, valued at approximately $5.3 billion including net debt, includes a 14% premium over United Rentals' original offer. As a result, United Rentals will not submit a revised proposal, opting instead to focus on its strategy of financial discipline and shareholder value. H&E is required to pay a $63.5 million termination fee to United Rentals should it finalize the deal with Herc. Following this development, United Rentals plans to resume its share repurchase program, which is integral to its capital return strategy. This decision reflects United Rentals' commitment to maintaining profitability and strategic growth amidst competitive pressures in the equipment rental industry.