Copart, Inc. (NASDAQ: CPRT) has launched its tender offer for all outstanding shares of ACV Auctions Inc. (NYSE: ACVA) at $10.50 per share in cash, moving forward with the approximately $1.9 billion acquisition the companies announced Sept. 10. The offer, commenced Sept. 17 through Apple Merger Sub, Inc., a wholly owned Copart subsidiary, is scheduled to expire one minute after 11:59 p.m. EDT Sept. 30 unless it is extended or terminated earlier.
The acquisition would combine Copart’s online vehicle auction business, whose consignors include insurance companies disposing of total-loss vehicles, with ACV’s dealer-to-dealer wholesale marketplace. The tender offer structure
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.
Leave a Reply
You must be logged in to post a comment.