Why ACV Stock Rocketed 44% Higher Today
The auto resale platform received an enticing buyout offer.
Overview
Shares of ACV Auctions (NYSE: ACVA) soared on Friday after the digital marketplace for used vehicles agreed to be acquired by industry giant Copart (NASDAQ: CPRT) for $1.9 billion.
Image source: Getty Images.
Under the terms of the deal, Copart will launch a tender offer for ACV's stock for $10.50 per share in cash.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.