Ritchie Bros scraps £775m Euro Auctions takeover

Global construction machinery auctioneer Richie Bros has abandoned plans to buy rival Euro Auctions.
The auctioneer has called off the agreed £775m take-over deal after the UK Competition and Markets Authority said it would launch a detailed phase 2 investigation into the planned takeover’s impact on competition.
A CMA initial investigation found that the companies had a very high market share in the supply of auction services for construction machinery, with Euro Auctions being the