Ritchie Bros to buy U.S. e-commerce site IronPlanet for $758 million
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UPDATE: Oppenheimer Reiterates Perform as Ritchie Bros. Auctioneers (RBA) Announces IronPlanet Acquisition
August 30, 2016 9:14 AM EDT(Updated - August 30, 2016 9:16 AM EDT)
Oppenheimer reiterated a perform rating on Ritchie Bros. Auctioneers (NYSE: RBA) after the company announced that it has entered into an agreement to acquire IronPlanet. The acquisition is expected to meaningfully bolster RBA's GAP/revenue/EPS over... More
Ritchie Bros. Auctioneers (RBA) to Acquire IronPlanet in $758.5M Deal
August 30, 2016 6:23 AM EDTRitchie Bros. Auctioneers Incorporated, the world's largest industrial auctioneer and a leading equipment distributor (NYSE: RBA), and IronPlanet, a leading online marketplace for used heavy equipment and other durable asset sales, jointly announced that they have entered into an agreement under which Ritchie Bros. will acquire IronPlanet for approximately US$758.5 million, subject to customary closing adjustments.
Founded in 1999, IronPlanet complements Ritchie Bros.' primarily end-user customer base, as it focuses largely on the needs of corporate accounts, equipment manufacturers, dealers and government entities in equipment disposition solutions. It conducts its sales primarily through... More
