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United Rentals agreed to acquire Neff for $1.3 billion in cash, or $25 per share, winning a bidding war against H&E Equipment Services.
H&E Equipment Services and Neff Corp. entered into a definitive merger agreement under which H&E will acquire Neff Corp. for a total enterprise value of about $1.2 billion, including approximately $690 million of net debt. The transaction is expected to close in late Q3 or early Q4 2017.