** Shares of rental equipment co H&E Equipment Services HEES.O up 14% at $99.50 premarket

** Co receives an about $3.83 bln buyout proposal from Herc Holdings HRI.N

** Herc offers $104.59 per share in cash and stock; offer represents about 20% premium on H&E's last close on Friday

** Last month, rival United Rentals URI.N said it will acquire H&E for $92 per share in cash

** URI says it does not intend to submit a revised takeover bid in light of the new offer

** HEES stock fall 6.4% in 2024

(Reporting by Rupali Chaudhary in Bengaluru)

((Rupali.Chaudhary@thomsonreuters.com))