Copart, Inc. (NASDAQ: CPRT) has extended its $10.50-per-share cash tender offer for ACV Auctions Inc. (NYSE: ACVA) a second time, moving the expiration to 5 p.m. EDT Oct. 15 to allow the federal antitrust waiting period on the deal to run out. The extension, announced Oct. 8, comes as tendered shares have climbed past the majority Copart needs to complete the purchase.
As of 5 p.m. EDT Oct. 7, about 90,199,271 ACV shares, or 52.84% of shares outstanding, had been validly tendered and not withdrawn, according to Computershare Trust Company, N.A., the depositary for the offer. When the offer reached
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