IAA, Inc. (IAA) shares are gaining more than 5 percent on Monday morning trade after the company and Ritchie Bros. Auctioneers Inc. (RBA, RBA.TO) announced amended terms of the merger agreement. As per the amendments, Ritchie Bros will acquire IAA in increased cash considerations. IAA shareholders will receive $12.80 per share in cash and 0.5252 common shares of Ritchie Bros.
Currently, IAA is at $43.02, up 5.83 percent from the previous close of $40.65 on a volume of 3,336,680.
RBA is at $61.42, up 2.08 percent from the previous close of $60.17 on a volume of 2,486,806.
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