Acquisition combines complementary businesses with vision to create a next-generation global marketplace for commercial assets and vehicles.
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSE: RBA) and IAA, Inc. (NYSE: IAA), announced an agreement for Ritchie Bros. to acquire IAA in a stock and cash transaction valued at approximately $7.3 billion including the assumption of $1.0 billion of net debt. The transaction has the unanimous support of both boards of directors.
Ritchie Bros. operates marketplaces that help consignors achieve the highest net return on the sale of their equipment and trucks.
Under the terms of the merger agreement, IAA stockholders will receive
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