Glass Lewis recommends against Ritchie Bros deal to acquire IAA -report

RB Global

06/03/2023 13:43

NEW YORK, March 6 (Reuters) - Proxy advisory firm Glass
Lewis recommends that shareholders vote against Ritchie Brothers
Auctioneers'  RBA.TO  planned takeover of U.S. auto retailer IAA
Inc  IAA.N .
    The recommendation cites "excessive execution risk" and
"procedural concerns" as reasons for its recommendation which
comes before investors will vote on March 14 on whether to
approve the proposed roughly $7 billion deal.

 (Reporting by Svea Herbst-Bayliss; editing by Jason Neely)
 ((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))