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Ritchie Bros. Shares Tumble on US$7.4B Acquisition of IAA

Por: MarketWatch Business November 07, 2022

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The Canadian industrial auctioneer and seller of used heavy industrial equipment said IAA stockholders would receive for each of their shares US$10 in cash and 0.5804 of a share. The deal includes the assumption of US$1 billion of net debt. In total, the purchase price is US$46.88 a share, representing a 19% premium to IAA's closing price on Friday. Ritchie Bros. said that the transaction is aimed at diversifying its customer base by... + full article



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