Ritchie Bros. issues presentation highlighting benefits of proposed IAA deal

Ritchie Bros. Auctioneers Incorporated (RBA) released a presentation regarding its acquisition of IAA, Inc (IAA) and the reasons Ritchie Bros. shareholders should vote to approve the transaction at the March 14, 2023 Special Meeting of Shareholders. The presentation has been filed with the U.S. Securities and Exchange Commission and is available at www.RBASpecialMeeting.com. Ann Fandozzi, CEO of Ritchie Bros., said, "The IAA transaction is expected to unlock substantial value that neither Ritchie Bros. nor IAA could achieve on its own, and we are confident in our ability to realize it. This confidence is grounded in the extensive due diligence we conducted before entering the IAA agreement, the complementary nature of the IAA asset, management’s experience in the auto industry and our Board and management team’s record of execution – both in M&A integration and driving successful transformation." "We urge our shareholders to put aside Luxor Capital Group LP’s ("Luxor") misleading claims and flawed analysis by voting ‘FOR’ the IAA acquisition on the WHITE proxy card. The compelling strategic and financial benefits we can create with IAA affirm our strong belief that the IAA acquisition is the most value maximizing opportunity for the Company," continued Fandozzi. Reference Link