CA - Ritchie Bros. discloses auction results key shareholder vote set for Tuesday

2023-03-13 07:19:52 ET

Ritchie Bros. Auctioneers ( NYSE: RBA ) disclosed on Monday that it sold more than 5.1K items from three locations in its Rocky Mountain Regional Event. The auction events generated more than $52M in gross transaction value.

The company noted the March 8-9 online and onsite auction attracted more than 12.3K bidders from more than 45 countries, with buyers from the United States purchasing 92% of the equipment. The remaining 8% was purchased by international buyers from as far away as Australia, Poland, and Egypt.

Equipment highlights from the Rocky Mountain Regional Event included +200 excavators, +195 truck tractors, +50 dump trucks, +50 skid steers, as well as dozers, loaders, and more. All items were sold without minimum bids or reserve prices.

Ritchie Bros ( RBA ) is on Seeking Alpha's Catalyst Watch this week. Shareholders will vote on March 14 on the planned buyout from IAA ( IAA ). Proxy adviser firms ISS and Glass Lewis have recommended Ritchie Bros. holders vote against the takeover. RBA holders Janus Henderson, Luxor Capital and Eminence Capital have come out against the deal, while IAA holder Ancora has supported it. Franchise Partners and Eagle Asset Management, which together own ~8% of Ritchie Bros. shares, are supportive of the transaction.

Shares Of RBA rose 1.11% in premarket trading.

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