Thrive Holdings, led by Jared Kushner, has agreed to acquire ADT in an all-cash deal valuing the company at $15.3 billion including debt. The transaction offers shareholders $10 per share, representing a 45.6% premium over the unaffected closing price of $6.87 on October 27. The offer is also 52.1% above the stock’s 30-day volume-weighted average price.
ADT’s board approved the deal unanimously. The acquisition is fully funded by Apollo Global Management, with no financing contingency. This marks Apollo’s second involvement with ADT, having previously taken the company private in 2016, relisting it in 2018, and fully exiting its equity stake in May.
Now, less than six months after selling its shares, Apollo is returning as a lender to support ADT’s transition back to private ownership.
Source: PE Insights · Summarized by HeadlinesBriefing