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
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.