Copart, Inc. Buyback
OLI recorded this information on 11/23/2015
Company:
Copart, Inc.
Buyback:
CPRT buyback
Share Amount Authorized:
7,317,073
Buyback Details:
Copart, Inc. (NASDAQ:CPRT) today announced that it expects to commence a modified "Dutch Auction" tender offer to purchase up to 7,317,073 shares of its common stock at a price per share not less than $38.00 and not greater than $41.00. The tender offer is expected to commence on November 24, 2015, and to expire on December 23, 2015, unless extended. The number of shares proposed to be purchased in the tender offer represents approximately 6.1% of Copart's currently outstanding common stock. Assuming 7,317,073 shares are repurchased at the maximum price of $41.00 per share in the tender offer, the Company will repurchase a total of approximately $300.0 million of its common stock in the tender offer.
Copart is a provider of online auctions and vehicle remarketing services. Co. provides vehicle sellers with a range of services to process and sell vehicles primarily over the internet through its Virtual Bidding Third Generation internet auction-style sales technology, which Co. refers to as VB3. Vehicle sellers consist primarily of insurance companies, but also include banks, finance companies, charities, fleet operators, dealers, vehicle rental companies, and individuals. Co. sells the vehicles principally to licensed vehicle dismantlers, rebuilders, repair licensees, used vehicle dealers, exporters, and to the general public.
CPRT SEC Filing Email Alerts Service
Open the CPRT Page at The Online Investor »
|
||||||||||||||||||||||||
Open the CPRT Page at The Online Investor (in a new window) »
 Free CPRT Email Alerts:
Get SEC Filing Alerts Get Dividend Alerts 
|
Avg. Broker Rec.
 
|
Buy (3.14 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: CPRT Stock Forecast Based on Zacks ABR data; powered by Xignite |
