Shares of H&E Equipment doubled when they were bought by United Rentals for $4.8B.

• H&E Equipment Services more than doubled in value on Tuesday after United Rentals agreed to buy the company for $4.8 billion.

• The combination of equipment lessors will expand United Rentals’ fleet to nearly 64,000 units.

• The companies expect the deal to close in the first quarter of 2025.

H&E Equipment Services (song) shares doubled after the company reached an agreement on Tuesday. obtained In United Rentals (URI) at 4.8 billion dollars.

The purchase price equates to $92 per share, and H&E stock accordingly rose to $90.51 on Tuesday. United Rentals’ share increased to 4 percent.

The combination of equipment lessors is expected to increase United Rentals’ fleet by nearly 64,000 units and generate approximately $130 million annually. Cost settings Within two years after the deal was closed. The integrated company’s equipment rental offerings include power and HVAC, portable storage, equipment solutions, fluid solutions and more.

H&E derivative was fixed. EBITDA Revenue of $1.52 billion in the 12 months ended September 30 was $696 million. The transaction also includes $1.4 billion. Net debtIt is expected to close in the first quarter of 2025, the company said.

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