Copart completes acquisition of ACV Auctions for $10.50 per share; ACV becomes independent subsidiary

COPART INC

Copart completed its cash tender offer for ACV at $10.50 per share; 116,818,409 ACV shares were validly tendered, about 68.43% of outstanding shares.
Tender offer expired at 5:00 p.m. Eastern on Oct. 15, 2026; merger closed Oct. 16, 2026 under Delaware DGCL Section 251(h), making ACV a wholly owned Copart subsidiary.
ACV common stock ceased trading on NYSE and ACV will operate as an independent Copart subsidiary led by ACV’s existing leadership team, including CEO George Chamoun.
Copart CEO Jay Adair said the deal creates an industry-leading remarketing platform spanning dealer trade-ins, wholesale remarketing, salvage disposition, and international scale.
Evercore advised Copart and J.P. Morgan advised ACV; Wilson Sonsini and Davis Polk served as legal counsel; Joele Frank and FGS Global provided communications support.

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