United Rentals, Inc. announced that it will no longer pursue the acquisition of H&E Equipment Services, Inc. The company decided not to submit a revised proposal after H&E received a superior acquisition bid from another strategic bidder. As a result, H&E intends to terminate its merger agreement with United Rentals, which was initially announced on January 14, 2025.

United Rentals emphasized its commitment to financial discipline and capital allocation, stating that it remains focused on its long-term strategy of profitable growth, strong free cash flow generation, and shareholder returns. The company also confirmed that it is waiving the four-day negotiation period required under the merger agreement.

Following H&E’s termination of the agreement, United Rentals will receive a termination fee of approximately $63.5 million. Additionally, the company announced that it will immediately restart its share repurchase program, with approximately $250 million remaining under its existing $1.5 billion authorization.

United Rentals remains the world's largest equipment rental company, operating in North America, Europe, Australia, and New Zealand, with a broad portfolio of rental equipment serving construction, industrial, and municipal customers.