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Apollo Funds Acquire ADT for $15 Billion

Paul, Weiss advised funds affiliated with Apollo Global Management, LLC on a recently completed merger with ADT Corporation.

ADT, a leading provider of monitored security, interactive home and business automation and related monitoring services in the U.S. and Canada, and Prime Security Services Borrower, LLC, a leading full-service business and home security company in the U.S. also owned by Apollo funds, announced February 16 that ADT and an Apollo funds portfolio company, Protection 1, had entered into a merger agreement under which ADT stockholders were entitled to receive $42 per share in cash in exchange for their shares of ADT common stock. The transaction had an aggregate value of approximately $15 billion. As a result of the transaction, ADT's common stock is no longer trading on the New York Stock Exchange and will be delisted. The headquarters of the combined company will remain in Boca Raton, Fla., and the combined company will operate primarily under the ADT brand.

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

May 2, 2016

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