Copart Extends $10.50-Per-Share Tender Offer For ACV: Here's What Investors Need To Know

• Copart, through its wholly owned subsidiary Apple Merger Sub, said the tender offer will remain open until 5 p.m. ET on Oct. 7, 2026.
• The transaction carries an implied equity value of approximately $1.9 billion.
• The HSR waiting period is scheduled to expire at 11:59 p.m. ET on Oct. 13, although it can end earlier if the agencies grant early termination. 

Copart Inc. (CPRT) said on Thursday it has extended its $10.50-per-share tender offer to acquire all outstanding shares of ACV Auctions (ACVA) until Oct. 7, as U.S. antitrust regulators continue to review the proposed deal.

CPRT shares were down 0.94%, while ACVA shares were up 0.19% at the time of writing on Thursday.

Copart, through its wholly owned subsidiary Apple Merger Sub, said the tender offer will remain open until 5 p.m. ET on Oct. 7, 2026. It was previously scheduled to expire one minute after 11:59 p.m. ET on Sept. 30.

The transaction carries an implied equity value of approximately $1.9 billion.

HSR Waiting Period Set To Expire Oct. 13

The latest extension comes after Copart withdrew and refiled its premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act. Copart said the refiling was intended to give the Justice Department's Antitrust Division and the Federal Trade Commission additional time to complete their review of the transaction.

The HSR waiting period is scheduled to expire at 11:59 p.m. ET on Oct. 13, although it can end earlier if the agencies grant early termination. 

47.78% Of ACV Shares Had Been Tendered

Computershare Trust Company, the depositary for the tender offer, said approximately 81.27 million ACV shares had been validly tendered and not properly withdrawn as of 11:59 p.m. ET on Sept. 30, representing about 47.78% of the company's outstanding shares.

Under the minimum condition, tendered and unwithdrawn shares, together with shares already owned by Copart's acquisition subsidiary and its affiliates, must represent more than 50% of ACV's outstanding shares at the offer's expiration, subject to the terms of the agreement.

Retail View On ACVA, CPRT

Retail sentiment around ACVA stock remained 'Bearish' with 'Low' message volumes over the past 24 hours, while sentiment around CPRT stock turned 'Bullish.'

CPRT stock has declined more than 31% year-to-date, while ACVA stock has gained more than 25% over the same period.

Read more: MSFT Stock Lands On Wells Fargo’s Q4 ‘Tactical Ideas List’ – Analyst Sees A 41% Upside Potential

For updates and corrections, email newsroom[at]stocktwits[dot]com.