United Rentals announced that it has terminated its merger agreement with H&E Equipment Services. As a result, United Rentals and its subsidiary, UR Merger Sub VII Corporation, withdrew their cash tender offer for all outstanding shares of H&E common stock. The termination makes it impossible to satisfy a key condition of the offer.

As part of the termination agreement, H&E will pay United Rentals a termination fee of $63.5 million. Additionally, the bridge financing commitment associated with the deal, which included institutions such as Morgan Stanley, Wells Fargo, and JPMorgan Chase, has also been terminated.

The company had previously disclosed details of the merger agreement in a filing on January 14, 2025.