ADT Signs $10.00/Share Cash Merger With Thrive Holdings, $15.3B Enterprise Value
ADT sits 64% above its 52-week low of $6.03 on elevated volume (16× avg).
Summary
ADT agreed to be acquired by Thrive Holdings for $10.00 per share in cash, with a go-shop through November 28, 2026 and a $227 million break fee ($114 million for a superior proposal during the go-shop).
Key Events · M&A and Partnerships · ADT
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Thrive to Buy ADT at $10.00 Cash
The merger agreement was signed October 29, 2026. Each share of common and Class B stock converts into $10.00 in cash, and unvested options and RSUs convert into contingent cash awards on the same terms.
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Go-Shop Runs Through November 28
ADT can solicit alternative proposals until 11:59 p.m. New York time on November 28, 2026, with an extension to December 8, 2026 for parties that made qualifying proposals during the go-shop.
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Asymmetric Break Fees
ADT pays Thrive $227 million to terminate, reduced to $114 million for a superior proposal signed during the go-shop or with an Excluded Party; Thrive pays ADT $473 million if it fails to close.
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Financing Committed, Not a Closing Condition
Thrive's equity commitment plus Apollo Funds' preferred equity and debt commitments cover the payments, and consummation is not conditioned on obtaining financing; ADT can seek specific performance to force a close.
Analysis · ADT · Trade & Services
ADT has signed a definitive agreement to be taken private by Thrive Holdings at $10.00 per share in cash, ending its run as a public company and capping the stock near the offer. The terms matter as much as the price. A go-shop through November 28, 2026 (extendable to December 8 for qualifying bidders) leaves room for a topping bid, and the break fees are asymmetric: ADT pays $227 million to walk, cut to $114 million for a superior proposal signed during the go-shop, while Thrive pays ADT $473 million if it fails to close. Funding comes from Thrive's equity commitment plus Apollo Funds' preferred equity and debt commitments, and closing is not conditioned on financing, which lowers the risk of a financing-driven collapse. What remains is the stockholder vote and HSR clearance, with a July 29, 2027 outside date.
At the time of this filing, ADT was trading at $9.87 on NYSE in the Trade & Services sector, with a market capitalization of approximately $6.7B. The 52-week trading range was $6.03 to $10.00. This filing was assessed with positive market sentiment and an importance score of 10 out of 10.