Welcome to our dedicated page for RB Global Ord Shs news (Ticker: RBA), a resource for investors and traders seeking the latest updates and insights on RB Global Ord Shs stock.
RB Global, Inc. (NYSE: RBA, TSX: RBA) generates frequent news coverage as an omnichannel marketplace serving buyers and sellers of commercial assets and vehicles worldwide. Company updates often focus on performance across key sectors such as automotive, commercial construction and transportation, government surplus, lifting and material handling, energy, mining and agriculture, reflecting activity across its auction sites and digital platform.
Investors following RBA news can expect regular earnings releases that detail gross transaction value (GTV), service revenue, inventory sales revenue, net income and adjusted EBITDA. These reports typically include sector-level GTV and total lots sold, commentary on service revenue take rate and inventory metrics, and reconciliations of reported operating expenses to adjusted measures. The company also provides financial outlooks for metrics such as GTV growth, adjusted EBITDA, tax rate ranges and capital expenditures, accompanied by forward-looking statement disclosures.
Beyond quarterly results, RB Global’s news flow highlights developments across its marketplace brands. Ritchie Bros. announcements include information about major auction events, such as large multi-day equipment auctions that attract consignors and bidders from many countries. IAA-related news covers remarketing contracts, government and fleet relationships, and Market Alliances in regions including Latin America and the Caucasus, where local partners operate auction centers or provide services to buyers accessing IAA’s vehicle inventory.
Additional updates cover acquisitions and partnerships, such as the purchase of J.M. Wood Auction Co., Inc. by Ritchie Bros. and joint ventures like LKQ SYNETIQ in vehicle parts dismantling and distribution. Leadership changes, organizational realignments and dividend declarations are also reported through RB Global’s press releases and SEC filings. For followers of RBA, this news page provides a centralized view of operational, financial, strategic and governance developments affecting the company’s marketplace ecosystem.
Luxor Capital Group urges shareholders of Ritchie Bros. Auctioneers (NYSE: RBA) to vote against the proposed merger with IAA, Inc. (NYSE: IAA) by
Ritchie Bros. (NYSE: RBA) is urging shareholders to vote in favor of the proposed acquisition of IAA, Inc. (NYSE: IAA) at the upcoming Special Meeting on March 14, 2023. The board, along with proxy advisory firm Egan-Jones, endorses the transaction, highlighting potential EBITDA increases of $350 million to $900 million, translating to an estimated $76 per share in additional value. This acquisition will more than double Ritchie Bros.' gross transaction value, enabling enhanced customer offerings and deeper market penetration. Additionally, an anticipated cumulative free cash flow of $2.5 billion from 2023 to 2026 is projected, providing financial flexibility for future growth.
Ritchie Bros. Auctioneers has declared a special cash dividend of US$1.08 per share, with a record date of March 17, 2023. The payment is contingent upon the successful completion of its merger with IAA, Inc., expected around March 20, 2023. If the merger closes as anticipated, shareholders will receive the dividend on March 28, 2023. Notably, those who sell their shares before the merger's closing will forfeit the right to the dividend. The shares will trade with 'due bills' starting March 16, 2023.
Ritchie Bros held a successful three-day auction from March 1-3, 2023, in Edmonton, AB, attracting over 15,300 bidders from more than 40 countries. The event saw the sale of over 5,500 items, generating a gross transaction value exceeding CA$72 million (over US$52 million). Approximately 93% of the sales were to Canadian buyers, with 62% coming from Albertans. The auction included significant equipment like a 2013 ELRUS CH550 cone crushing plant, which sold for CA$770,000. The company plans to return to Edmonton for its largest Canadian auction on April 24-28, 2023.
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Ritchie Bros. Auctioneers (NYSE: RBA) received strong support from its shareholders, including Vontobel Asset Management, which holds 2.15% of RBA shares, for its acquisition of IAA, Inc. (NYSE: IAA). This backing aligns with positive sentiment from industry analysts regarding the potential synergies and benefits of the merger. The stock price of Ritchie Bros. has risen since the acquisition announcement, showcasing market optimism. A Special Meeting is scheduled for March 14, 2023, where shareholders will vote on proposals related to the acquisition. Ritchie Bros. emphasizes a commitment to delivering shareholder value through effective integration and growth strategies.
Ritchie Bros. Auctioneers (NYSE: RBA) urges shareholders to vote 'FOR' the acquisition of IAA, Inc. (NYSE: IAA) at the upcoming Special Meeting on March 14, 2023. The company asserts that the merger could generate potential EBITDA of $350 million to $900 million, along with $14.3 billion in gross transaction value, effectively doubling its size. Significant cost savings and growth opportunities could yield up to $76 per share in additional value. Ritchie Bros. has garnered strong backing from major shareholders and industry analysts amidst opposition from Luxor Capital Group, which Ritchie claims misrepresents the acquisition's benefits.
Ritchie Bros. Auctioneers (NYSE: RBA) announced the pricing of a $550 million offering of 6.750% senior secured notes due March 15, 2028, and $800 million of 7.750% senior notes due March 15, 2031. The funds will support the cash consideration for the upcoming merger with IAA, Inc., refinance IAA's existing debt, and provide a special cash dividend of $1.08 per share to Ritchie Bros. shareholders. The offering's gross proceeds will be held in escrow until the merger closes on March 15, 2023, subject to customary conditions.
Luxor Capital Group, managing 4.7 million shares (4.2% of RBA), criticized Ritchie Bros. for its $485 million financing deal with Starboard Value LP, suggesting it benefits Starboard at shareholders' expense. Following a recent debt raise, RBA attracted over $9 billion in demand, pricing an $800 million unsecured bond at 375 basis points, far lower than the terms of the Starboard deal which would need to offer over 1,500 basis points to match par value. Luxor argues that this highlights the questionable rationale behind the financing, calling for RBA shareholders to vote NO on the proposed IAA merger.
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