June 2, 2025

Milbank Advises H&E on Successful $5.3B Acquisition by Herc Holdings

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Milbank LLP advised H&E Equipment Services, Inc. in connection with its previously announced acquisition by Herc Holdings Inc. (NYSE: HRI). The transaction was completed through a successful tender offer of $78.75 in cash and 0.1287 shares of Herc common stock for each share of H&E common stock. H&E’s stock ceased trading on the NASDAQ under the ticker symbol HEES, effective today.

Milbank is serving as legal counsel to H&E, with a deal team led by Global Corporate/M&A partners Derek Winokur and Iliana OngunExecutive Compensation partners Mike Shah and Kelly BartleyTax partner Edward LemanowiczCorporate Finance and Securities partners Antonio Diaz-AlbertiniBrett Nadritch and Jonathon Jackson; Antitrust partners Adam Di Vincenzo and Grant Bermann; and Litigation partner Dan Perry. The team also included Global Corporate/M&A associates Rachel RiceLeslie Hamic, Ryan Aymard, Jacklyn Weon, Joshua Rosenberg and Daniel Munden; Antitrust special counsel Alexis Brown-Reilly and associate Ari BlaskIntellectual Property special counsel John Garces; Tax associate Michael Rivkin; Executive Compensation associate Joo Hyeon Lee; Litigation associate Victor Hollenberg; and Corporate Finance and Securities associate Ian Hunley.