Imagine three big companies: H&E, United Rentals, and Herc. H&E sells and rents construction equipment, like giant cranes and bulldozers. United Rentals wanted to buy H&E, but Herc offered a better deal!
Herc's offer was much higher, making H&E's shares jump up. United Rentals decided not to compete.
This is a big business deal showing how companies compete to buy each other. It's all about who offers the most money.
- Herc offered more money than United Rentals to buy H&E.
- H&E accepted Herc's better offer.
- United Rentals gave up on buying H&E.
- H&E has to pay United Rentals a small fee for breaking their earlier agreement.
| Company | Stock Change | Deal Value |
|---|---|---|
| Herc | Down 7.7% | $5.3 Billion (approx.) |
| H&E | Up 15% | $5.3 Billion (approx.) |
| United Rentals | Down 2.8% | $4.8 Billion (approx.) |
