Luxor intends to vote against Ritchie Bros. proposed acquisition of IAA

Luxor Group Capital, as the manager of funds owning 4.0mm shares of Ritchie Bros. Auctioneers Incorporated (RBA), representing 3.6% of the Company’s outstanding shares, 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. (IAA) 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.