Luxor Capital files proxy statement to oppose Ritchie Bros.' value-destructive merger with IAA

Goodmans LLP acted for Luxor Group Capital, LP in connection with its opposition to proposals to be presented at the upcoming special meeting of RBA shareholders relating to RBA’s proposed merger with IAA, Inc.

Luxor is a multi-billion-dollar investment manager based in New York with an extensive history of investing in global marketplaces businesses.

At the special meeting, Luxor intends to vote against the proposal to approve the issuance of RBA common shares to IAA stockholders in connection with the IAA Merger and against the proposal to adjourn the Special Meeting, if necessary or appropriate, to solicit additional proxies if there are not sufficient votes to approve the share issuance proposal.

As a cross-border proxy fight, this complex situation requires the use of both Canadian and U.S proxy rules. This is one of the only, if not the only, vote no campaign that is involving a full solicitation by one activist investor, versus a simpler vote no campaign.

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Luxor Capital files proxy statement to oppose Ritchie Bros.' value-destructive merger with IAA

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Luxor Capital files proxy statement to oppose Ritchie Bros.' value-destructive merger with IAA

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