Copart to buy ACV Auctions in $1.9 billion deal
CPRT•Copart agrees to acquire ACV Auctions
Sept. 10 (Reuters) - Online vehicle auctioneer Copart on Thursday agreed to acquire ACV Auctions in an all-cash deal for about $1.9 billion, marking its entry into dealer-to-dealer vehicle remarketing.
Shares of ACV Auctions, a digital marketplace to buy and sell cars, jumped over 40% after the bell. Copart's were up 10%.
The purchase price of $10.50 per share represents a premium of about 45% to ACV's last close, Copart said.
