ACV Auctions Inc. has completed its acquisition by Copart, Inc., following the successful conclusion of a tender offer. The transaction, previously announced on September 10, 2026, resulted in ACV becoming a wholly owned subsidiary of Copart.
On September 17, 2026, Merger Sub, a wholly owned subsidiary of Copart, commenced a tender offer to purchase all outstanding shares of ACV common stock at a price of $10.50 per share, net to the seller in cash. The offer expired on October 15, 2026, and was not extended. According to the filing, 116,818,409 shares were validly tendered and not properly withdrawn, representing approximately 68.43% of the outstanding shares. This satisfied the condition for the offer to proceed.
The merger was formally consummated on October 16, 2026, with ACV continuing as the surviving corporation. The aggregate consideration paid by Copart and Merger Sub in connection with the acquisition was approximately $1,801,021,081.00, funded by cash on hand.
In connection with the merger, ACV’s certificate of incorporation and bylaws were amended and restated in their entirety on October 19, 2026. The company also notified the New York Stock Exchange (NYSE) of the merger and requested the suspension of trading and delisting of its shares. Additionally, ACV intends to file a Form 15 with the SEC to terminate the registration of its shares and suspend its reporting obligations.
As a result of the change in control, all seven directors of ACV immediately prior to the effective time—George Chamoun, Brian Radecki, Brian Hirsch, Eileen Kamerick, Robert Goodman, Kirsten Castillo, and René F. Jones—ceased to be directors. A. Jayson Adair and Leah C. Stearns, the directors of Merger Sub, became the directors of ACV. The officers of ACV remained the same following the merger.
