Apollo Global Management LLC In $7 Billion Deal To Acquire ADT Corporation

Apollo Global Management LLC (APO) has reached an agreement to acquire electronics security services provider ADT for $7 billion, representing a premium of about 56% to ADT’s Friday close. The latest deal underscores the fact that the recent market turmoil hasn’t dampened the red-hot merger market.

ADT shares surge following Apollo Global’s takeover announcement

In a deal that ranks as one of the biggest leveraged buyouts in recent years, Apollo Global agreed to pay $42 a share in cash for ADT. The home security company was spun off from fire safety and security systems maker Tyco International in 2012.

Resonating the latest announcement, ADT...