Monitor stockholder vote and antitrust clearance timeline. The go-shop period may attract competing bids, but the 45.6% premium and committed financing reduce deal risk. Watch for any regulatory hurdles or competing proposals before the expected Q1 2027 close.
Price Chart
Executive Summary
ADT Inc. entered into a definitive merger agreement to be acquired by Thrive Holdings (through Abode Parent, LLC) in an all-cash transaction valued at $10.00 per share, representing a total enterprise value of approximately $15.3 billion and equity value of $7.6 billion. The transaction is expected to close in Q1 2027, subject to stockholder approval and antitrust clearance, with a 30-day go-shop period. Separately, the Compensation Committee added three executives to the Change in Control Severance Plan to ensure uniformity.
Key Financial Metrics
Key Facts
- ADT Inc. entered into a definitive Agreement and Plan of Merger with Abode Parent, LLC and Abode Merger Sub, Inc.
- Stockholders will receive $10.00 per share in cash, a 45.6% premium to the unaffected closing price of $6.87 on October 27, 2026.
- Transaction valued at approximately $15.3 billion enterprise value and $7.6 billion equity value.
- Transaction expected to close in Q1 2027, subject to stockholder approval and antitrust clearance under the HSR Act.
- 30-day go-shop period ending November 28, 2026, with possible extension to December 8, 2026 for Excluded Parties.
- Termination fee of $227 million payable by ADT under certain circumstances, reduced to $114 million during go-shop or with Excluded Parties.
- Parent termination fee of $473 million payable to ADT under certain circumstances, including failure to close.
- Financing commitments obtained from equity commitment letter, preferred equity commitment from Apollo Funds, and debt commitment letters from Apollo and Atlas.
- Three executives (James DeVries, Jeffrey Likosar, David Smail) added to the Change in Control Severance Plan.
- Board of Directors unanimously approved the merger and recommends stockholders vote in favor.
Financial Impact
All-cash consideration of $10.00 per share, representing a 45.6% premium to the unaffected price of $6.87. Total enterprise value approximately $15.3 billion, equity value approximately $7.6 billion.
Risk Factors
- Stockholder approval required; risk of vote failure or appraisal demands.
- Antitrust clearance under HSR Act may impose conditions or delay closing.
- Go-shop period could result in a competing superior proposal, triggering termination fee.
- Financing commitments subject to conditions; failure to obtain financing could delay or prevent closing.
- Stockholder litigation could delay or impose costs on the transaction.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-437964 |
| Document: d184339d8k.htm | 0001193125-26-437964 |
| Document: 0001193125-26-437964-index-headers.html | 0001193125-26-437964 |
| Document: 0001193125-26-437964-index.html | 0001193125-26-437964 |
| Document: 0001193125-26-437964.txt | 0001193125-26-437964 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | SC 13G/A | $9.87 | awaiting T+5 | awaiting T+5 | $9.86 (−0.10%) |
Oct 29, 2026 2d ago | DEFA14A | $9.88 | awaiting T+5 | awaiting T+5 | $9.86 (−0.20%) |
Oct 29, 2026 3d ago | DEFA14A | $9.88 | awaiting T+5 | awaiting T+5 | $9.86 (−0.20%) |
Oct 29, 2026 3d ago | DEFA14A | $9.88 | awaiting T+5 | awaiting T+5 | $9.86 (−0.20%) |
Oct 29, 2026 3d ago | DEFA14A | $9.88 | awaiting T+5 | awaiting T+5 | $9.86 (−0.20%) |
Oct 29, 2026 3d ago | DEFA14A | $9.88 | awaiting T+5 | awaiting T+5 | $9.86 (−0.20%) |
Oct 29, 2026 3d ago | DEFA14A | $9.88 | awaiting T+5 | awaiting T+5 | $9.86 (−0.20%) |
Oct 29, 2026 3d ago | DEFA14A | $9.88 | awaiting T+5 | awaiting T+5 | $9.86 (−0.20%) |
Oct 29, 2026 3d ago | DEFA14A | $9.87 | awaiting T+5 | awaiting T+5 | $9.86 (−0.10%) |
Oct 29, 2026 3d ago | 8-K | $9.87 | awaiting T+5 | awaiting T+5 | $9.86 (−0.10%) |
US Market Status
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