Eminence Capital, the beneficial owner of more than 900,000 shares of Class A Common Stock of Ritchie Bros. Auctioneers (RBA), announced its intention to vote AGAINST the company’s proposed merger with IAA, Inc. (IAA). Eminence also issued a letter to RBA shareholders highlighting the flawed and risky nature of the transaction with limited strategic logic.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on IAA:
- Eminence Capital to Vote AGAINST Ritchie Bros. Proposed Merger with IAA, Inc.
- Luxor Capital files proxy materials to oppose Ritchie Bros., IAA merger
- IAA reports preliminary Q4 revenue $524M, consensus $535.21M
- Ritchie Bros. Mails Definitive Proxy Statement and Letter to Shareholders
- Janus Henderson intends to vote against Ritchie Bros., IAA deal