ADT agrees to a $10-a-share take-private deal with Thrive Holdings
The proposed acquisition has $7.6 billion of equity value and $15.3 billion of enterprise value. It has not closed.
ADT agreed to be acquired by Thrive Holdings in an all-cash transaction that would pay shareholders $10 per share, the companies announced Thursday. The agreement values ADT's equity at about $7.6 billion and the enterprise at about $15.3 billion. Those figures describe different measures of the same proposed transaction.
ADT's board unanimously approved the agreement. Thrive's legal adviser, Kirkland & Ellis, separately confirmed the deal, its valuation and the first-quarter 2027 closing target.
A premium with a specific starting date
The companies say the $10 offer is a 45.6% premium to ADT's unaffected closing price of $6.87 on October 27. That is the comparison date in the announcement, not a claim about the latest trading price.
Shareholders would receive the cash upon completion. Until then, ADT says it will keep operating independently. It would become privately held and its common stock would stop trading on the New York Stock Exchange only after the transaction closes.
Approvals and a chance for other bids
The expected first-quarter 2027 closing is subject to customary conditions, including ADT shareholder approval and U.S. antitrust approval. The companies say financing commitments come from funds managed by Apollo affiliates, and the transaction is not subject to a financing condition.
The agreement also allows ADT to seek alternative proposals through November 28, with a possible ten-day extension for certain bidders that submit a proposal during the initial period. That go-shop window gives other potential buyers an opportunity; it does not establish that a better offer will arrive.
The key distinction is between an agreed price and a completed payment. Our DoorDash-Instacart report covers a separate proposed acquisition announced today, with its own consideration mix and much longer closing timetable.
