Josh Kushner's Thrive to acquire ADT for $7.6 bln, shares soar
BUZZ-Josh Kushner's Thrive to acquire ADT for $7.6 bln, shares soar ** Home security firm ADT ADT.N shares up 33.7% on Thurs at $9.91, highest since Dec 2022, after co says it agreed to be acquired by Josh Kushner's venture capital firm Thrive Holdings in all-cash deal valuing it at about $7.6 bln
** ADT said Thrive will pay $10/sh for the Boca Raton, Florida-based firm, a 35% premium to stock's last sale of $7.41 on Weds
** The deal, which has an enterprise value of $15.3 bln, slated to close in Q1 2027
** Josh Kushner founded Thrive in 2009. His brother, Jared, is US President Donald Trump's son-in-law
** Financing commitments for the transaction have been solely provided by funds managed by affiliates of Apollo Global Management, Inc. APO.N
** Apollo took ADT public in 2018 IPO priced at $14; buyout firm divested its remaining stake in ADT in May 2026 when stock was trading around $7
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))