U
United Rentals, Inc.
Acquirer counsel
Sullivan & Cromwell LLP
Francis AquilaPartner
7 lawyers involved
Rainmaker
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Milbank advises H&E Equipment Services on $4.8 billion acquisition by United Rentals
Deal Overview
- Value
- $4.8bn
- Deal type
- M&A
- Structure
- Data in progress
- Status
- Data in progress
Advisors
ACQUIRER
Sullivan & Cromwell LLP Overview
- United Rentals is the world's largest equipment rental company, and it is buying H&E Equipment Services, one of the largest rental equipment companies in the US with a fleet spanning aerial work platforms, earthmoving, material handling and other general and specialty lines.
- The deal values H&E at a total enterprise value of US$4.8 billion, including about US$1.4 billion of net debt.
- Strategically, the acquisition adds one of the nation's largest rental equipment fleets, covering aerial work platforms, earthmoving, material handling and other general and specialty categories.
H
H&E Equipment Services, Inc.
Seller counsel
Milbank
Lauren GilesAssociate
Mark FreemanAssociate
16 lawyers involved
Milbank Overview
- H&E Equipment Services, Inc. is the target in United Rentals' announced acquisition, with H&E's board having approved the deal and recommended that its stockholders tender their shares.
- United Rentals agreed to acquire H&E in an all-cash transaction with an enterprise value of approximately US$4.8 billion, and will launch a tender offer for all outstanding H&E shares at US$92.00 per share in cash.
- The transaction was signed through a definitive agreement and is structured as a tender offer rather than a merger vote process, with United Rentals set to commence the offer after announcement.