ADT stock spikes 34% on $7.6 billion takeover deal by Josh Kushner’s Thrive
In short
Shares of ADT recorded a 34% increase in the wake of the public buyout announcement. The transaction values the security solutions company at $7.6 billion under the terms of the takeover agreement. Thrive, the investment firm established by founder Josh Kushner, is leading the acquisition.
Key points
- Josh Kushner's investment firm Thrive is taking ownership of the company.: Josh Kushner's investment firm Thrive is taking ownership of the company.
- Market participants pushed company equity significantly higher after terms were released.: Market participants pushed company equity significantly higher after terms were released.
- The buyout transaction represents a $7.6 billion commitment to acquire the business.: The buyout transaction represents a $7.6 billion commitment to acquire the business.