Statement says the revised deal has ‘done little to change the financial terms for RBA shareholders’
this week after months of shareholder opposition to its original proposal. The new terms included a larger cash component and less stock, meaning existing Ritchie Bros. shareholders would face less dilution.Despite those updates, Luxor Capital Group released a statement Tuesday evening saying the revised deal has “done little to change the financial terms for RBA shareholders.” New York-based Luxor, which owns roughly 3.6 per cent of Ritchie Bros.
Luxor, in its statement Tuesday, said “the revised deal is overwhelmed by the extravagant terms offered to Starboard.”
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