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Ritchie Bros. and IAA Announce Receipt of Regulatory Clearances for Proposed Merger
Ritchie Bros. and IAA Announce Receipt of Regulatory Clearances for Proposed Merger Can...
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[{"type":"text","content":"\n \n \n \n Ritchie Bros. and IAA Announce Receipt of Regulatory Clearances for Proposed Merger\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n , and\n \n WESTCHESTER, Ill.\n \n \n ,\n \n \n Dec. 20, 2022\n \n \n /CNW/ - Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSX: RBA) (\"\n \n Ritchie Bros\n \n .\") and IAA, Inc. (NYSE: IAA) (\"IAA\"), today announced expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and receipt of a no-action letter from the Canadian Commissioner of Competition with respect to the pending acquisition of IAA by\n \n Ritchie Bros\n \n . The parties have received all necessary regulatory clearance required pursuant to the previously announced Agreement and Plan of Merger and Reorganization between the parties dated as of\n \n November 7, 2022\n \n . The transaction is expected to close in the first half of 2023, subject to approval by\n \n Ritchie Bros\n \n . shareholders of the issuance of\n \n Ritchie Bros\n \n . common shares in connection with the acquisition, adoption of the merger agreement by IAA stockholders, and other customary closing conditions.\n \n \n \n About\n \n Ritchie Bros\n \n .\n \n \n \n Established in 1958,\n \n Ritchie Bros\n \n . (NYSE and TSX: RBA) is a global asset management and disposition company, offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. Operating in a number of sectors, including construction, transportation, agriculture, energy, mining, and forestry, the company's selling channels include: Ritchie Bros. Auctioneers, the world's largest industrial auctioneer offering live auction events with online bidding; IronPlanet, an online marketplace with weekly featured auctions and providing the exclusive IronClad Assurance\n \n (R)\n \n equipment condition certification; Marketplace-E, a controlled marketplace offering multiple price and timing options; Ritchie List, a self-serve listing service for North America;&#x...