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You are here: Home / News / Ritchie Bros. and IAA Announce Amended Merger Agreement

Ritchie Bros. and IAA Announce Amended Merger Agreement

January 23, 2023 By CollisionWeek Editor Leave a Comment

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

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Filed Under: News Tagged With: Acquisitions, Ancora Holdings, Boyd Group, Insurance Auto Auctions, Ritchie Bros, Starboard Value

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