Ritchie Bros. Closes $1.35B in Senior Notes to Partially Fund IAA Merger

Ritchie Bros. closed an offering of $550 million aggregate principal amount of 6.75% senior secured notes and $800 million aggregate principal amount of 7.75% senior unsecured notes to partially fund its merger with IAA. read more

MAR 16, 2023 - 7:17 am

Ritchie Bros. Receives $500MM Investment from Starboard Value

Ritchie Bros. entered into a securities purchase agreement with Starboard Value and certain of its affiliates pursuant to which Starboard will make a concurrent $485 million convertible preferred equity and $15 million common share investment in Ritchie Bros. read more

JAN 25, 2023 - 7:18 am

Ritchie Bros. and IAA Amend Merger Agreement

Ritchie Bros. and IAA amended the terms of their previously announced merger agreement. The amended agreement shifts the consideration makeup to a cash/stock mix of approximately 29% cash and 71% stock from the previous mix of 22% cash and 78% stock. read more

JAN 24, 2023 - 7:15 am

Ritchie Bros. and IAA Receive Regulatory Clearance for Proposed Acquisition

The waiting period for the proposed acquisition of IAA by Ritchie Bros. under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired, while the entities received a no-action letter from the Canadian Commissioner of Competition. read more

DEC 20, 2022 - 7:24 am