ADT Inc

NYSE:ADT   3:59:52 PM EDT
7.78
+0.28 (+3.80%)
Mergers / Acquisitions

Adt Announces Partnership With State Farm, Plans Innovative

Published: 09/06/2022 12:40 GMT
ADT Inc (ADT) - Adt Announces Partnership With State Farm, Plans Innovative Offering That Combines Security, Risk Mitigation and Smart Home Capabilities to Revolutionize the Customer Experience.
Adt Inc - State Farm to Invest $1.2 Billion in Adt at $9.00 per Share, Acquiring Approximately 15% of Company.
Adt Inc - Google Commits an Incremental $150 Million.
Adt Inc - Adt Plans to Partner With State Farm, and Build Upon Its Existing Relationship With Google.
Adt Inc - State Farm Will Commit Up to $300 Million to Fund Product and Technology Innovation, Customer Growth and Marketing.
Adt Inc - State Farm Has Agreed to Make a $1.2 Billion Investment in Adt to Acquire 133.3 Million Shares of Adt's Common Stock at $9 per Share.
Adt Inc - State Farm Will Obtain a Seat on Adt's Board of Directors.
Adt Inc - State Farm Intends to Designate Paul Smith, Executive Vice President and Chief Operating Officer of State Farm.
Adt Inc - Tender Offer is Expected to Eliminate Any Dilution From State Farm's Equity Investment.
Adt Inc - After Equity Investment and Tender Offer Close, State Farm Will Own Approximately 15% of Adt.
Adt Inc - Funds Managed by Affiliates of Apollo Global Management Have Committed to Backstop Entire Offering to Ensure That It is Fully Subscribed.
Adt Inc - After Equity Investment and Tender Offer Close, Google Will Continue to Own a 6% Stake (on an As-converted Basis) in Adt.
Adt Inc - Google, Only Holder of Adt's Class B Common Stock, Will Not Tender Any of Its Shares.