US Stock Market Move | United Rentals, Inc. (URI.US) acquires H&E Equipment Services (HEES.US) at a premium, causing a surge of over 106%.

On Tuesday, the stock price of H&E Equipment Services (HEES.US) surged, with the stock rising over 106% to $90.54 at the time of writing. This increase came after United Rentals, Inc. (URI.US) announced that they would be acquiring the company for $4.8 billion. United Rentals, Inc. aims to meet their equipment rental needs through this acquisition. Shareholders of H&E will receive $92 in cash per share from United Rentals, Inc. This amount is 109.4% higher than the closing price of the stock on Monday. The stock price of United Rentals, Inc. (URI.US) also rose over 4% to $718.805.