Luxor ‘disappointed’ in results of preliminary Ritchie Bros-IAA merger vote

Luxor Capital Group, the manager of funds owning 4.7M shares of Ritchie Bros. Auctioneers (RBA), representing approximately 4.2% of the company’s outstanding shares, announced that preliminary results, as of the proxy deadline and tabulated by Luxor’s proxy solicitor, show that approximately 43M shares, or 46% of votes cast, voted to defeat the proposed merger with IAA (IAA) in connection with the March 14 special meeting of shareholders. "Despite our best efforts on behalf of all shareholders, and our disappointment in the outcome, we wish the company well with its integration of IAA. Luxor would like to thank Ritchie Bros. shareholders for supporting our fact-based campaign, and exercising their responsibilities as engaged fellow owners. We would also like to thank both ISS and Glass Lewis for their comprehensive analysis," said Doug Snyder, President of Luxor.