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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

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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