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Under new ownership: H&E Rentals is now officially in the hands of Herc. The deal significantly expands Herc’s national footprint and reinforces its position as a leading player in the equipment rental market. Under the terms of the deal, Herc acquired all outstanding shares of H&E common stock for $78.75 in cash and 0.1287 shares of Herc stock per H&E share. H&E’s stock has been delisted from the Nasdaq. Read the announcement.
More downsizing: Microsoft Corp. cut hundreds more jobs just weeks after its largest layoff in years, underscoring the tech industry’s efforts to trim costs even as it plows billions of dollars into artificial intelligence, Bloomberg reports. More than 300 employees were told their positions had been eliminated on Monday. A Microsoft spokesperson said the latest headcount reduction is in addition to the 6,000 job cuts announced last month. Bloomberg has the full story.
Grid unplugged: A new modular, off-grid “power foundry” system that integrates gas power, battery storage, and cooling components to efficiently support data centers will initially be deployed in the Southeast. The concept aims to reduce capital and operational costs by one-third, eliminate legacy infrastructure like diesel generators and achieve 90% efficiency for energy conversion, thereby boosting IT power availability by 50%. Introduced by GridFree AI, the startup co-founded by former executives from Microsoft and BP secured a $5 million funding round led by Giant Ventures. Axios has the details.
