Watch for HSR early termination or Second Request before October 13. Deal completion appears highly likely given tender count above the minimum condition; any further extension beyond October 15 would signal regulatory delay. Monitor settlement or dismissal of shareholder lawsuits for any risk of injunction.
Price Chart
Executive Summary
Copart (CPRT) has extended its all-cash tender offer for ACV Auctions (ACVA) to October 15, 2026, to allow additional time for HSR Act waiting period expiration on October 13, 2026. As of the prior deadline, 90,199,271 shares (~52.84%) were tendered, exceeding the minimum condition of >50%. The deal is on track with high completion likelihood, though three shareholder lawsuits alleging disclosure deficiencies in the Schedule 14D-9 are pending.
Key Financial Metrics
Key Facts
- Offer price: $10.50 per share, all cash, net to seller.
- Tender offer extended to 5:00 p.m. ET on October 15, 2026.
- As of October 7, 2026, ~90,199,271 shares validly tendered, representing ~52.84% of outstanding shares.
- Minimum condition requires >50% of shares tendered (excluding shares not yet received by depository).
- HSR waiting period expires 11:59 p.m. ET on October 13, 2026.
- Three shareholder lawsuits filed alleging disclosure deficiencies in Schedule 14D-9; ACV believes claims without merit.
Financial Impact
All-cash acquisition of ACV at $10.50/share; total deal value not stated in filing.
Risk Factors
- HSR Second Request could extend waiting period beyond October 13.
- Shareholder lawsuits could seek injunction if court finds merit.
- Failure to meet minimum condition if shares withdrawn.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC TO-T/A Filing (Primary) | 0001193125-26-417451 |
| Document: d181465dex99a5vii.htm | 0001193125-26-417451 |
| Document: 0001193125-26-417451-index-headers.html | 0001193125-26-417451 |
| Document: 0001193125-26-417451-index.html | 0001193125-26-417451 |
| Document: 0001193125-26-417451.txt | 0001193125-26-417451 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 8-K | $10.50 | awaiting T+20 | — | — |
Oct 16, 2026 10d ago | SC 14D-9/A | $10.50 | awaiting T+20 | — | — |
Oct 16, 2026 10d ago | 25-NSE | $10.50 | awaiting T+20 | — | — |
Oct 16, 2026 10d ago | SC TO-T/A | $10.50 | awaiting T+20 | — | — |
Oct 14, 2026 12d ago | SC 14D-9/A | $10.50 | awaiting T+20 | — | — |
Oct 14, 2026 12d ago | SC TO-T/A | $10.50 | awaiting T+20 | — | — |
Oct 8, 2026 18d ago | SC 14D-9/A | $10.44 | awaiting T+20 | — | — |
Oct 8, 2026 18d ago | SC TO-T/A | $10.44 | awaiting T+20 | — | — |
Oct 1, 2026 25d ago | SC 14D-9/A | $10.45 | awaiting T+20 | — | — |
Oct 1, 2026 25d ago | SC TO-T/A | $10.45 | awaiting T+20 | — | — |
US Market Status
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