Amended agreement was unanimously approved by both boards and is supported by Ancora Holdings. Starboard Value is making a $500 million strategic investment. Boyd Group’s Tim O’Day expected to be appointed to Ritchie Board of Directors upon closing of transaction.
Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) and IAA, Inc. (NYSE: IAA) today announced that they have amended the terms of their previously announced merger agreement, that will have Ritchie Bros. acquire IAA in a stock and cash transaction. According to the companies, the amended agreement, which delivers enhanced value to Ritchie Bros. shareholders and increased cash consideration to IAA