ACV Auctions soars after Copart agrees $1.9 billion takeover
BUZZ-ACV Auctions soars after Copart agrees $1.9 billion takeover ** Shares of wholesale vehicle marketplace ACV Auctions ACVA.N jump 43.4% to $10.35 premarket
** Online vehicle auctioneer Copart CPRT.O agreed to buy ACVA for an all-cash deal worth about $1.9 billion
** Co shareholders to receive $10.5 per share, representing a premium of 45% to ACVA's last close
** CPRT shares up 7.6% at $33.1; co also reported Q4 revenue above analysts' estimates - LSEG-compiled data
** Copart seeks to expand beyond its core auction business amid slowing vehicle volume growth
** Evercore is serving as financial advisor to Copart and J.P. Morgan Securities is to ACV
** Talks of ACVA exploring sale were first reported on August 11
** As of last close, ACVA stock down 10% YTD, CPRT down 21.5%
(Reporting by Utkarsh Hathi in Bengaluru)