Ritchie Bros. auctioneers will acquire IAA — a business that specializes in selling total-loss, damaged and low-value vehicles — for $7.3 billion in stock and cash, including the assumption of $1 billion in debt. The transaction, which will give Ritchie Bros. stockholders 59% of the combined company, has been unanimously supported by both boards. “IAA […]
Source: Truck News