18 02 2016

Apollo Global Management, LLC acquires ADT Corporation

Simpson Thacher is representing The ADT Corporation (NYSE: ADT) in connection with its proposed sale to an affiliate of certain funds managed by affiliates of Apollo Global Management, LLC for $42 per share in an all cash transaction.


Under the terms of the transaction, ADT will be merged with a subsidiary of Protection 1, which is also owned by Apollo-affiliated funds. When combined with Protection 1, the purchase price represents an aggregate transaction value of approximately $15 billion. The transaction, which is expected to close by June 2016, is subject to stockholder and regulatory approvals and other customary closing conditions.  ADT is a leading provider of security and automation solutions for homes and businesses in the United States and Canada. The company, led by Naren Gursahaney, Michael Geltzeiler and N. David Bleisch is based in Boca Raton (FL). The Simpson Thacher team includes Alan Klein, Anthony Vernace, Michael T. Holick and Gabriela Botifoll (M&A); Brian Gluck (Banking and Credit); Kenneth Wallach and Brian Rosenzweig (Capital Markets); Rob Holo, Sophie Staples, Michael Badain (Tax); Greg Grogan, Patricia Adams and Nadine Mompremier (Executive Compensation and Employee Benefits); Lori Lesser and Genevieve Dorment (Intellectual Property); Peter Guryan, Ellen Frye and Richard Jamgochian (Antitrust); and Adeeb Fadil and Noreen Lavan (Environmental). Paul Weiss is representing Apollo with a team led by Taurie Zeitzer (Picture). Involved fees earner: Taurie Zeitzer - Paul, Weiss, Rifkind, Wharton & Garrison LLP; Alan Klein - Simpson Thacher & Bartlett; Anthony Vernace - Simpson Thacher & Bartlett; Michael Holick - Simpson Thacher & Bartlett; Gabriela Botifoll - Simpson Thacher & Bartlett; Brian Gluck - Simpson Thacher & Bartlett; Kenneth Wallach - Simpson Thacher & Bartlett; Brian Rosenzweig - Simpson Thacher & Bartlett; Robert Holo - Simpson Thacher & Bartlett; Sophie Staples - Simpson Thacher & Bartlett; Michael Badain - Simpson Thacher & Bartlett; Gregory Grogan - Simpson Thacher & Bartlett; Patricia Adams - Simpson Thacher & Bartlett; Nadine Mompremier - Simpson Thacher & Bartlett; Lori Lesser - Simpson Thacher & Bartlett; Genevieve Dorment - Simpson Thacher & Bartlett; Peter Guryan - Simpson Thacher & Bartlett; Ellen Frye - Simpson Thacher & Bartlett; Richard Jamgochian - Simpson Thacher & Bartlett; Adeeb Fadil - Simpson Thacher & Bartlett; Noreen Lavan - Simpson Thacher & Bartlett;

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