Copart completes ACV Auctions buyout at $10.50 a share; ACV delists from NYSE

Copart closed its cash takeover of online wholesale-vehicle platform ACV Auctions, folding a dealer-facing auction network into its salvage and remarketing franchise.

According to an 8-K filed Friday, Copart completed the acquisition on Oct. 16, 2026, after its wholly owned subsidiary Apple Merger Sub finished a tender offer for ACV common stock at $10.50 a share in cash. The offer expired at 5:00 p.m. Eastern Time on Oct. 15 and was not extended. Computershare reported 116,818,409 ACV shares validly tendered and not withdrawn — about 68.43% of shares outstanding when combined with shares already owned by Copart and Merger Sub — meeting the majority-ownership condition.

Merger Sub accepted and is paying for the tendered shares. Copart then merged Merger Sub into ACV under Delaware’s short-form merger statute without an ACV stockholder meeting, converting remaining untendered shares into the same $10.50 cash consideration, subject to appraisal rights where perfected. ACV common stock has ceased trading on the New York Stock Exchange, and ACV will operate as a wholly owned, independent subsidiary of Copart led by ACV’s existing leadership team, the company said in a press release furnished with the filing.

Chief Executive Officer Jay Adair cast the close as a growth-strategy milestone, saying the combination creates “an industry-leading, fully complete remarketing platform spanning dealer trade-ins, wholesale remarketing, salvage disposition, and international scale.” ACV CEO George Chamoun said joining Copart “amplifies” ACV’s mission to change the used-vehicle sector and expands reach through Copart’s physical footprint and buyer-seller network.

Shares of Copart were little changed midday Friday, trading near $27.83, up about 0.3% from the prior close.

By the numbers

• Offer price: $10.50 per ACV share in cash
• Tender expiration: 5:00 p.m. ET Oct. 15, 2026 (not extended)
• Shares tendered: 116,818,409 (~68.43% with Copart/Merger Sub holdings)
• Close date: Oct. 16, 2026
• Post-close: ACV delisted; independent Copart subsidiary

Sources

1. Copart, Inc., Form 8-K (Items 2.01, 7.01, 9.01), filed Oct. 16, 2026, accession 0001193125-26-423478
2. Copart press release (Exhibit 99.1), Oct. 16, 2026

This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.

Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.