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ADT Jumps as Thrive Holdings Bids $10 Per Share Cash

Thrive Holdings has agreed to take ADT private for $10 a share in cash, and the home-security group's shares jumped about a third to just under the offer.

ADT (NYSE: ADT) shares jumped about 34% on Thursday after the US home-security group agreed to be taken private by Thrive Holdings for $10 a share in cash. ADT provides security, interactive and smart-home services to residential and small-business customers. The offer values its equity at about $7.6bn and the business at $15.3bn including debt.

The stock was quoted at $9.90 at 7:31pm London time, a delayed quote, against Wednesday’s close of $7.41 and about 1% below the offer. It reached $9.995 during the day, a new 12-month high, on volume of about 134 million shares.

The deal was announced at 1:20pm London time, before the US open. Thrive Holdings is a permanent-capital holding company that owns more than 75 businesses. It is led by Josh Kushner and, according to the FT, is OpenAI-backed. ADT’s board backed the deal unanimously, and funds managed by affiliates of Apollo Global Management are providing all the financing, with no financing condition.

Jim DeVries, ADT’s chairman, president and chief executive, said the deal “delivers an attractive cash premium to our stockholders”. The company put the $10 price at a 45.6% premium to the $6.87 close on Tuesday, and 52.1% above the 30-day volume-weighted average price (VWAP) to that date.

The shares rose about 7.9% yesterday, before the announcement, so the premium to Wednesday’s close is nearer 35%. The offer still tops every close in the past year, the highest of which was $8.84 on the 31st of October 2025.

ADT share price against the $10 Thrive offer
ADT’s daily close since late July, with the $10.00 offer as a level; the last point is today’s delayed quote of $9.90.

A gap of about 1% to the offer suggests traders expect the deal to complete and do not expect a rival to pay more. The shares closed as low as $6.08 on the 30th of September, the lowest close in the past year.

A 30-day go-shop, in which ADT may seek rival proposals, runs to the 28th of November. Completion, expected in the first quarter of 2027, needs stockholder and US antitrust approval. ADT reports third-quarter results before the open next Tuesday but will take no questions.

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