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Non-Tech : Ritchie Bros. Auctioneers (NYSE: RBA)
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To: Doug (Htfd,CT) who wrote ()3/1/1999 8:31:00 PM
From: LBell   of 12
 
Last week's (Cdn.) National Post had an article on Ritchie Bros. buying Forke Auctioneers Inc. Some of it was material duplicated in the thread header but the highlights were:

- Forke (pronounced Forkay) was Ritchie's biggest competitor but their gross sales are estimated to be less than 1/3 of Ritchie's.

- Ritchie's is not buying all of Forke's business (excludes a financing operation based in Florida and a retail truck business) so they don't know yet how much the acquisition will add to their revenue stream.

- The deal is subject to antitrust regulators in the US.

- This is Ritchie's first acquisition in 35 years of business. "And it may be some time before the gavel drops on another acquisition. Once the Forke deal is complete, Ritchie will return to expanding the business by adding sales people and locations... There isn't another industrial auctioneer that would be nearly as good a fit."
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