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ADT To Be Acquired by Funds Affiliated With Apollo

As reported by The New York Times, The Wall Street Journal and other media outlets, ADT Corporation, a leading provider of monitored security, interactive home and business automation and related monitoring services in the U.S. and Canada, announced that it has entered into a definitive agreement to be acquired by an affiliate of certain funds managed by affiliates of Paul, Weiss client Apollo Global Management, LLC and co-investors and merged with a subsidiary of Prime Security Services Borrower, LLC (with its subsidiaries, "Protection1"), a leading full-service business and home security company in the U.S. also owned by Apollo, for $42 per share in cash. The purchase price represents a premium of approximately 56 percent over ADT's closing share price on February 12, and, when combined with Protection 1, represents an aggregate transaction value of approximately $15 billion. The headquarters of the combined company will remain in Boca Raton, FL, and will operate primarily under the ADT brand. The Board of Directors of ADT unanimously approved the transaction. The acquisition, which is subject to ADT stockholder approval and other customary closing conditions, is expected to be completed by June. 

The Paul, Weiss team was led by M&A partner Taurie Zeitzer and finance partner Gregory Ezring.

February 16, 2016

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