Luxor, which holds a 3.6 per cent stake in the auctioneer, says the revised deal does little for Ritchie Bros. shareholders. It is also critical of a
Ritchie Bros. amended its proposal to buy IAA earlier this week to increase the proportion of cash offered and trim the overall value of the bid.
The
It also now plans to pay a special one-time dividend of
The amended deal, which has been approved by the boards of both companies, still requires approval by the shareholders of Ritchie Bros. and IAA.
This report by The Canadian Press was first published
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