Market Chatter: ACV Auctions Said to Explore Sale After Receiving Takeover Interest

MT Newswires Live08-11

ACV Auctions (ACVA) has received takeover interest and is exploring a potential sale, Bloomberg reported Tuesday, citing people familiar with the matter.

ACV, a digital marketplace where people can buy and sell cars, is working with financial advisers to conduct a review, and is also considering a strategic partnership as an alternative to a sale, the report said, citing the people.

Any deal is still weeks away, and ACV could remain independent, the people reportedly told Bloomberg.

ACV Auctions didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 7.33, Change: +0.07, Percent Change: +0.90

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