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United Rentals Got Outbid for H&E. Now Its Stock Is Falling.
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United Rentals said Tuesday it would “no longer pursue the acquisition of H&E.” Herc is optimistic the deal will create value, predicting some $300 million in annual synergies from the combination. “We are pursuing the proposed combination with H&E from a position of strength and view it as a path to accelerate Herc’s strategy and growth trajectory,” said CEO Larry Silber in a news release.
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