Thrive Holdings Agrees To Buy ADT For $10.00 A Share, A $15.3 Billion Deal With Apollo Financing
The all-cash offer is a 45.6% premium to ADT's unaffected close, and a go-shop period runs through November 28.
Thrive Holdings agreed Thursday to take ADT private for $10.00 a share in cash, a deal that values the home security company at about $7.6 billion in equity and $15.3 billion including debt, according to an 8-K and press release. NYSE had halted ADT shares at 9:08 a.m. ET, and the filing was accepted minutes later.
A 45.6% premium, funded by Apollo
The price is a 45.6% premium to ADT's unaffected close of $6.87 on October 27, 2026, and 52.1% above its 30-day volume-weighted average price ending that day. ADT's board approved the deal unanimously.
Financing commitments come solely from funds managed by affiliates of Apollo Global Management, and the deal carries no financing condition. The companies expect closing in the first quarter of 2027, pending ADT stockholder approval and U.S. antitrust clearance. After that, ADT's stock will stop trading on the New York Stock Exchange.
ADT shares rose 7.9% on Wednesday, after a report that Thrive Capital, led by Josh Kushner, was in talks to take the company private.
Smart home security under Thrive
ADT provides security, interactive and smart home solutions to residential and small business customers in the U.S., and says it has more than 12,000 employees. Thrive Holdings describes itself as a permanent capital holding company, and more than 75 businesses across accounting, IT services and the built environment are part of it, including Current in accounting and Shield in IT services. ADT would form the foundation of its smart home security business.
Thrive partner Kareem Zaki said the firm has "the capital and patience to invest over decades." ADT will operate independently until closing, and its data and privacy policies will stay unchanged, with no new data sharing without customer permission, the companies said.
Go-shop and the November 3 report
ADT may solicit rival proposals for 30 days, through 11:59 p.m. New York time on November 28, 2026, with a possible 10-day extension for certain parties that submit proposals in that window. ADT can terminate the merger agreement to accept a superior proposal, subject to its terms.
ADT reports third-quarter results on November 3 before the market opens. Its 10 a.m. ET call will go ahead without questions because of the deal. A proxy statement for the stockholder vote will follow.
The go-shop window, open through November 28, is the next date that can change the $10.00 price.
Sources
- 8-K Filing — ADT Inc. (ADT) — SEC EDGAR
- Exhibit d572133dex991.htm — ADT Inc. 8-K exhibit — SEC EDGAR
- ADT jumps on report Thrive Capital in talks to buy | Seeking Alpha — seekingalpha.com
- On National First Responders Day, ADT Honors Those Who — globenewswire.com
