H&E Equipment Services, Inc. (NASDAQ: HEES) and United Rentals, Inc. (NYSE: URI) announced that they have entered into a definitive agreement for URI to acquire H&E in an all-cash transaction with an enterprise value of approximately $4.8 billion.
Under the terms of the agreement, United Rentals will commence a tender offer to acquire all outstanding shares of H&E for $92.00 per share in cash. The agreement was approved by H&E’s board of directors, which recommends that H&E stockholders tender their shares in the offer.
Milbank is serving as legal counsel to H&E, with a deal team led by Global Corporate/M&A partners Derek Winokur and Iliana Ongun; Executive Compensation partners Mike Shah and Kelly Bartley; Tax partner Edward Lemanowicz; Corporate Finance and Securities partners Antonio Diaz-Albertini, Brett Nadritch and Jonathon Jackson; and Antitrust partner Adam Di Vincenzo. The team also included Global Corporate/M&A associates Rachel Rice, Leslie Hamic, Ryan Aymard, Lauren Giles and Mark Freeman, and law clerk Daniel Munden; Antitrust special counsel Alexis Brown-Reilly and associate Ari Blask; Intellectual Property special counsel John Garces; Tax associate Michael Rivkin; and Executive Compensation associate Joo Hyeon Lee.
