ACV will operate as an independent Copart subsidiary under its existing leadership team. Copart, Inc. (NASDAQ: CPRT) has completed its acquisition of ACV Auctions Inc. for $10.50 per share in cash, closing the approximately $1.9 billion deal Oct. 15 after its tender offer expired with about 68.43% of ACV’s outstanding shares tendered. ACV’s stock has […]
Copart Extends ACV Auctions Tender Offer to Oct. 15 as Tendered Shares Pass 50%
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 […]
Copart Launches Tender Offer for ACV Auctions Shares, Sets Sept. 30 Expiration
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 […]
Copart to Acquire ACV Auctions for $1.9 Billion, Expanding Into Dealer Wholesale
Copart, Inc. (NASDAQ: CPRT) has agreed to acquire ACV Auctions Inc. (NYSE: ACVA) for $10.50 per share in cash, valuing the digital wholesale vehicle marketplace at approximately $1.9 billion and extending the salvage auction operator into the dealer-to-dealer channel for the first time. The $10.50 per-share price represents a premium of approximately 45% to ACV […]