Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Luxor Capital Issues Open Letter to Board of Ritchie Bros. on Ill-Advised Proposed Acquisition of IAA By: Luxor Capital Group, LP via GlobeNewswire December 16, 2022 at 08:30 AM EST Details Serious Concerns with Proposed IAA Merger, including the Undervaluation of RBA Shares, the Potential Erosion of RBA Business Quality, the Dilution of RBA Shareholders, and the Business Outlook of IAA Believes that RBA Should Continue on as a Standalone Company and Focus on its Expansion into the $300bn Heavy Equipment Total Addressable Market Intends to Vote against the Proposed IAA Merger at RBA’s Upcoming Special Meeting NEW YORK, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Luxor Group Capital, LP (“Luxor”), as the manager of funds owning 4.0mm shares of Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSX: RBA) (“RBA” or the “Company”), representing 3.6% of the Company’s outstanding shares, today announced that it has issued an open letter with supporting materials to the Company’s Board of Directors. In its letter, Luxor details its serious concerns with the proposed merger between RBA and IAA, Inc. (NYSE: IAA) (the “IAA Merger”) and expresses its opposition to the deal. As such, Luxor announced its intention to vote against the IAA Merger at the Company’s yet-to-be scheduled special meeting of shareholders. The full text of the letter and supporting materials may be viewed at the following link: https://www.luxorcap.com/RBA.pdf About Luxor Capital Group, LP: Luxor Capital Group, LP is a multi-billion-dollar investment manager, which was founded in 2002 and is based in New York. It makes investments through its fundamental, long-term oriented investment process. The firm has an extensive history of investing in global marketplaces businesses. Contacts: Investor ContactDouglas FriedmanLuxor Capital Group, LPRBA@luxorcap.com Media ContactDouglas SnyderLuxor Capital Group, LPRBA@luxorcap.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Luxor Capital Issues Open Letter to Board of Ritchie Bros. on Ill-Advised Proposed Acquisition of IAA By: Luxor Capital Group, LP via GlobeNewswire December 16, 2022 at 08:30 AM EST Details Serious Concerns with Proposed IAA Merger, including the Undervaluation of RBA Shares, the Potential Erosion of RBA Business Quality, the Dilution of RBA Shareholders, and the Business Outlook of IAA Believes that RBA Should Continue on as a Standalone Company and Focus on its Expansion into the $300bn Heavy Equipment Total Addressable Market Intends to Vote against the Proposed IAA Merger at RBA’s Upcoming Special Meeting NEW YORK, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Luxor Group Capital, LP (“Luxor”), as the manager of funds owning 4.0mm shares of Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSX: RBA) (“RBA” or the “Company”), representing 3.6% of the Company’s outstanding shares, today announced that it has issued an open letter with supporting materials to the Company’s Board of Directors. In its letter, Luxor details its serious concerns with the proposed merger between RBA and IAA, Inc. (NYSE: IAA) (the “IAA Merger”) and expresses its opposition to the deal. As such, Luxor announced its intention to vote against the IAA Merger at the Company’s yet-to-be scheduled special meeting of shareholders. The full text of the letter and supporting materials may be viewed at the following link: https://www.luxorcap.com/RBA.pdf About Luxor Capital Group, LP: Luxor Capital Group, LP is a multi-billion-dollar investment manager, which was founded in 2002 and is based in New York. It makes investments through its fundamental, long-term oriented investment process. The firm has an extensive history of investing in global marketplaces businesses. Contacts: Investor ContactDouglas FriedmanLuxor Capital Group, LPRBA@luxorcap.com Media ContactDouglas SnyderLuxor Capital Group, LPRBA@luxorcap.com
Details Serious Concerns with Proposed IAA Merger, including the Undervaluation of RBA Shares, the Potential Erosion of RBA Business Quality, the Dilution of RBA Shareholders, and the Business Outlook of IAA Believes that RBA Should Continue on as a Standalone Company and Focus on its Expansion into the $300bn Heavy Equipment Total Addressable Market Intends to Vote against the Proposed IAA Merger at RBA’s Upcoming Special Meeting NEW YORK, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Luxor Group Capital, LP (“Luxor”), as the manager of funds owning 4.0mm shares of Ritchie Bros. Auctioneers Incorporated (NYSE: RBA) (TSX: RBA) (“RBA” or the “Company”), representing 3.6% of the Company’s outstanding shares, today announced that it has issued an open letter with supporting materials to the Company’s Board of Directors. In its letter, Luxor details its serious concerns with the proposed merger between RBA and IAA, Inc. (NYSE: IAA) (the “IAA Merger”) and expresses its opposition to the deal. As such, Luxor announced its intention to vote against the IAA Merger at the Company’s yet-to-be scheduled special meeting of shareholders. The full text of the letter and supporting materials may be viewed at the following link: https://www.luxorcap.com/RBA.pdf About Luxor Capital Group, LP: Luxor Capital Group, LP is a multi-billion-dollar investment manager, which was founded in 2002 and is based in New York. It makes investments through its fundamental, long-term oriented investment process. The firm has an extensive history of investing in global marketplaces businesses. Contacts: Investor ContactDouglas FriedmanLuxor Capital Group, LPRBA@luxorcap.com Media ContactDouglas SnyderLuxor Capital Group, LPRBA@luxorcap.com