9/104 sources · 4 publishersUpdated Oct 16, 14:35 UTC
Copart completes acquisition of ACV Auctions
Copart finalized the purchase of ACV Auctions, converting all outstanding ACV shares into cash. About 68.43% of ACV shares were tendered, representing 116,818,409 shares, and the remaining shares were cancelled and paid at the agreed cash price. ACV will operate as an independent subsidiary under its current leadership. The antitrust waiting period for the deal ended on October 14.
Why it matters
The transaction adds ACV's remarketing platform to Copart's portfolio, expanding its service offering. Investors in Copart now own a larger, integrated vehicle auction business, while ACV shareholders received cash for their shares.
Key facts
- 168.43% of ACV shares were tendered. investing.com
- 2116,818,409 ACV shares were tendered. investing.com
- 3The antitrust waiting period expired on October 14. marketscreener.com
- 4ACV shares ceased trading on the New York Stock Exchange. stocktitan.net
Open questions
- Purchase price per ACV share reported as $10.50 versus $11.15.
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.