As CEO Peter Kelly reminded listeners on an investors call Monday, there is a “high hurdle” OPENLANE must clear when making decisions regarding mergers and acquisitions.

“I believe that this transaction clears that high hurdle by offering a compelling financial return, but also significantly advancing our digital strategy in one of our core markets,” Kelly said.

The transaction to which Kelly refers is OPENLANE’s deal, announced late Monday afternoon, to buy Manheim Canada for $130 million (CAD), which is $95 million (USD).

The deal, once it closes, includes ...

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