FGS, JF Work Copart/ACV Deal

Copart Inc. (CPRT) extended its $10.50-per-share tender offer for ACV Auctions (ACVA) until Oct. 7, awaiting U.S. antitrust approval. The deal values ACVA at about $1.9B. As of Sept. 30, 47.78% of ACVA shares were tendered. CPRT shares fell 0.94%, while ACVA shares rose 0.19%.

Copart extended its $10.50-per-share tender offer for ACV Auctions until October 7, awaiting federal antitrust review. As of September 30, 47.78% of ACV shares were tendered, below the 50% threshold. The acquisition aims to combine their digital automotive marketplaces, with regulatory clearance pending.

Copart Inc. (CPRT) extended its tender offer for ACV Auctions Inc. (ACVA) to October 7, 2026, offering $10.50 per share. The extension follows a refiling under the HSR Act. As of Tuesday, 81.27 million shares, or 47.78% of outstanding shares, were tendered. The offer requires over 50% of shares to be tendered and HSR Act approval.

Copart, Inc. (CPRT) extended its $10.50 per share tender offer for ACV to Oct. 7, 2026. As of Sept. 30, 47.78% of ACV's shares were tendered. The deal's closing depends on meeting a 50% minimum and HSR waiting period expiring Oct. 13.

Copart refiled its US antitrust notification for its $1.9 billion acquisition of ACV Auctions, setting an Oct. 13 deadline for regulators' initial review. This step follows the withdrawal and resubmission of the paperwork.

ACV Auctions (ACVA) agreed to be acquired by Copart for US$1.9b at US$10.50 per share. ACVA's stock rose 40.3% in 30 days and 61.7% in 90 days, despite long-term declines. The stock now trades near the offer price, with varying fair value estimates (US$10.13 vs. US$36.57). Analysts debate deal certainty and business risks.