Tuesday 21 March 2023

Canada-based auctioneer Ritchie Bros. Auctioneers Inc. (NYSE: RBA) (TSX: RBA) has completed its acquisition of IAA, Inc, a digital marketplace connecting vehicle buyers and sellers, the company said.

Under the terms of the merger agreement, IAA stockholders will receive USD 12.80 per share in cash and 0.5252 common shares of Ritchie Bros. for each share of IAA common stock they own.