© Reuters. FILE PHOTO: The sign outside Richie Bros. Auctioneers is seen in Longmont, Colorado, U.S., February 21, 2017. REUTERS/Rick Wilking
(Reuters) -Canadian equipment marketplace Ritchie Bros (NYSE:) Auctioneers Inc said on Monday it would buy IAA (NYSE:) Inc in a cash-and-stock deal valued at about $7.3 billion including debt.
The purchase price of $46.88 per share represents a premium of about 19% to the closing share price of IAA common stock on Nov. 4.
Under the terms of the deal, IAA stockholders will get $10 in cash and 0.5804 shares of Ritchie Bros common stock for each IAA share held, the companies said.
Ritchie Bros stockholders will own about 59% of the combined company once the deal closes.
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