The proxy advisory services firm says it believes the potential risks associated with the deal appear to outweigh the potential upside articulated by the Ritchie Bros. board.
Ritchie Bros. is offering
The company has said it disagrees with the ISS report and another from proxy advisory firm Glass Lewis that also recommends shareholders vote against the deal.
Ritchie Bros. says the transaction is expected to unlock "substantial additional value" that neither company could achieve on its own.
Several Ritchie Bros. shareholders have expressed concerns about the deal and announced plans to vote against the agreement which requires approval by shareholders of both companies.
This report by The Canadian Press was first published
Companies in this story: (TSX:RBA)
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