News Go

News & articles

UPDATE 1-Apollo Global Management nears deal to buy ADT Corp – source

Private-equity firm Apollo Global Management (APO.N) is nearing a deal to acquire ADT Corp (ADT.N) and combine it with another security company Apollo already owns, Protection 1, according to a person familiar with the matter.

The price could not be immediately learned, though given the company’s current market value, the deal will likely value ADT at more than $10 billion, including debt.

The deal could be announced as early as Tuesday, the source added.

Reuters earlier reported Apollo Global had also participated in the auction for Fresh Market Inc (TFM.O), a U.S. specialty grocery retailer that has been exploring a sale.

ADT was spun off from Tyco international (TYC.N) in 2012.

The Wall Street Journal first reported the deal on Monday.

Apollo Global declined to comment on the report while ADT Corp was not available for comment outside regular U.S. business hours.

(Reporting by Greg Roumeliotis and Parikshit Mishra; Editing by Bill Rigby and Gopakumar Warrier)

Source link

Back to Top