ADT merger: no other offers received
The 40-day “go shop” period included in the previously announced merger agreement between The ADT Corp. and affiliates of Apollo Global Management has come to an end, with no other offers being received.
ADT and its representatives solicited alternative acquisition proposals during the go-shop period from 24 potential acquirers, but none of those parties expressed an interest in pursuing a transaction, and no other party proposed an alternative transaction, says ADT.
The acquisition of ADT by Apollo Global is expected to be completed by June 2016, subject to ADT stockholder approval and other customary closing conditions.
ADT is a provider of security and automation solutions for homes and businesses in the United States and Canada. The acquisition is to be followed by a merger with Protection 1. The combined company will operate primarily under the ADT brand.
Read more about the merger here.