ADT Signs Definitive Deal to Be Acquired by Thrive Holdings at $10.00/Share in Cash

summarizeSummary

ADT agreed to be acquired by Thrive Holdings for $10.00 per share in cash, a 45.6% premium to its unaffected price, in a deal valued at $15.3 billion enterprise value. Closing is targeted for Q1 2027 pending a stockholder vote and antitrust approval, with a 30-day go-shop window. The merger agreement sets a $227 million termination fee, cut to $114 million for a superior proposal during the go-shop, and a $473 million reverse fee payable by Parent.

check_boxKey Events · M&A and Partnerships · ADT

• New · Oct 29 · SEC 8-K

  Merger Agreement Sets Termination Fees

  The merger agreement sets a $227 million termination fee, cut to $114 million if ADT exits for a superior proposal during the go-shop, and a $473 million reverse fee payable by Parent.

• Thrive Holdings to Buy ADT for $10.00 Cash

  Definitive agreement values ADT at approximately $7.6 billion in equity value and $15.3 billion in enterprise value, with stockholders receiving $10.00 per share in cash.

• 45.6% Premium to Unaffected Price

  The $10.00 per share price is a 45.6% premium to ADT's unaffected closing price of $6.87 on October 27, 2026, and 52.1% to its 30-day volume-weighted average price.

• Apollo Financing, No Financing Condition

  Financing commitments were solely provided by funds managed by affiliates of Apollo Global Management, and the transaction is not subject to a financing condition.

• Go-Shop Through November 28, 2026

  ADT may solicit third-party proposals for 30 days until 11:59 p.m. New York City time on November 28, 2026, with a potential 10-day extension for certain parties, and can terminate to accept a superior proposal.

auto_awesomeAnalysis · ADT · Trade & Services

ADT's board unanimously approved an all-cash sale to Thrive Holdings at $10.00 per share — a 45.6% premium to the $6.87 unaffected close on October 27, 2026 — valuing equity at roughly $7.6 billion and enterprise value at $15.3 billion. That price becomes the reference point for the stock: the shares now trade as a deal, with the remaining gap to $10.00 reflecting only time and the risk the transaction breaks. Apollo-managed funds are financing the deal and there is no financing condition, which removes the most common failure mode. The 30-day go-shop through November 28, 2026 leaves room for a topping bid, and ADT can terminate to accept a superior proposal, though the merger agreement sets a $227 million termination fee, cut to $114 million if it exits for a superior proposal during the go-shop, while Parent owes a $473 million reverse fee. Closing is targeted for Q1 2027 and needs a stockholder vote and U.S. antitrust clearance; on completion ADT goes private and delists from the NYSE.