ADT vote on acquisition April 22 Go-shop stopped, 24 potential ADT suitors not interested
By SSN Staff
Updated Mon April 4, 2016
BOCA RATON, Fla.—ADT stockholders will gather April 22 for a special meeting to vote on the proposed acquisition of ADT by Apollo Global Management. ADT announced in February that it had agreed to be acquired by Apollo for $6.9 billion. Apollo plans to merge ADT with Protection 1.
The special meeting will be held at 9 a.m. in the main dining room at the New York Stock Exchange. ADT stockholders of record as of the close of business on March may vote.
ADT on March 28 announced the expiration of the 40-day “go shop” period included in Apollo agreement. ADT said it “actively solicited alternative acquisition proposals during the go-shop period from 24 potential acquirers,” however, “none of these parties executed a confidentiality agreement or otherwise expressed an interest in pursuing a transaction, and no other party proposed an alternative transaction," the company said.
The acquisition is expected to be completed in June 2016.
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