India, Sept. 10 -- Copart Inc. (CPRT) on Thursday announced that it has agreed to acquire ACV (ACVA) for $10.50 per share in cash, representing an implied equity value of approximately $1.9 billion.
The purchase price represents premiums of about 45% to ACV's unaffected August 10 closing price and 41% to its 30-day volume-weighted average price through September 9.
The acquisition will expand Copart's presence across the vehicle remarketing ecosystem by adding ACV's digital wholesale marketplace for dealer-to-dealer vehicle sales.
Copart said the combination will create an end-to-end vehicle remarketing platform spanning dealer trade-ins, wholesale remarketing, salvage disposition and international resale. The companies will also combine...