Shares of IAA (IAA) are up $3.67, or 10%, to $41.28 after Ritchie Bros. Auctioneers (RBA) shareholder Luxor Capital Group announced that preliminary results, as of the proxy deadline and tabulated by Luxor’s proxy solicitor, show that approximately 43M shares, or 46% of votes cast, voted to defeat the proposed merger with IAA in connection with the March 14 special meeting of shareholders.
Published first on TheFly
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Read More on IAA:
- IAA ‘disappointed’ with Glass Lewis,’ ISS’ recommendations for Ritchie Bros.
- ISS, Glass Lewis recommend Ritchie Bros. investors vote against IAA merger
- Ritchie Bros. board ‘strongly disagrees’ with Glass Lewis, ISS recommendations
- Proxy advisors urging shareholders to reject Ritchie Bros’ IAA bid, Reuters says
- IAA falls -7.6%
