Copart Launches $1.9 Billion Tender Offer for ACV Auctions

The company says the purchase will give it dealer trade‑ins and condition data to route vehicles into higher‑return channels.

Overview

Copart disclosed on Sept. 10 that it had started an all‑cash tender offer for ACV at $10.50 per share, valuing the deal at about $1.9 billion and aiming to close by year‑end subject to a majority tender or waiting‑period expiration.
Copart plans to combine its physical salvage yards, logistics and international buyer base with ACV’s digital dealer‑to‑dealer marketplace and inspection and valuation tools to control earlier lanes of the used‑car pipeline.
The company says it will fund the purchase from cash on hand, expects the deal to be roughly breakeven initially and projects earnings accretion in fiscal 2028 while warning of integration and execution risk.
ACV reported roughly $214 million in second‑quarter revenue with flat marketplace volume and an about $8 million GAAP loss, and ACV shares rose roughly 49% after the offer that represented about a 45% premium to the prior close.
Analysts and investors are watching tender participation, regulatory clearances and whether Copart can offset softer insurance salvage volumes and rising per‑car costs because a failed integration could delay any promised benefits to dealers, exporters and salvage buyers.