Copart (CPRT): $10.50 ACV bid hinges on US antitrust clock, tender runs to Oct 15
Copart's $10.50-a-share cash bid for ACV Auctions is down to the wire. About 52.8% of ACV shares were tendered by Oct 7, above the 50% minimum, and the US antitrust waiting period was due to end late Oct 13. Offer expires Oct 15 unless extended.
Why it matters The deal values ACV at about $1.9 billion and would fold a digital used-car marketplace into the online auction leader. The share minimum looks met, so the remaining hurdle is US antitrust clearance, and the deadline has already been pushed back once.
What we verified Copart's Oct 8 release (via Stock Titan) and MLex agree the tender was extended to 5pm ET Oct 15 and that the HSR waiting period was due to expire at 11:59pm ET Oct 13. The 52.84% tendered figure (90.2M shares as of Oct 7) is from the release. We found no confirmation yet of whether the waiting period ended or a further request was issued.
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