The Daily Chase: Rogers-Shaw deal faces public hearing; Ritchie Bros to buy IAA for US$6.3B

​One of the largest – and most contentious – takeovers in Canadian history is getting its day in the sun, with public hearings kicking off later this morning.

M&A MONDAY

Auctioneer Ritchie Bros. is on the acquisition trail, announcing plans to buy up IAA for US$6.3 billion, plus the assumption of about US$1 billion in debt. The deal is a mix of stock and cash, and represents a 19 per cent premium to IAA's closing price on Friday. The deal will leave Ritchie Bros. shareholders with 59 per cent of the combined entity, with IAA shareholders picking up the remainder.

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