Hints and tips:
...Apollo has also historically turned to the borrowings, pledging its shares in ADT, Rackspace, Hilton Grand Vacations, TD Synnex and OneMain Financial to secure loans, according to the filings....
...of ADT’s smart-home offering.”...
...ADT closed at $8.70 on Wednesday. Even if the ADT share price does not recover, Apollo stands to make a profit on the deal....
...In the first quarter, Apollo made three big deals — ADT Security Services, The Fresh Market and Apollo Education....
...The ADT takeover closed this week....
...Monday’s $28.50 a share cash offer for Fresh Market follows Apollo’s $1.1bn and $15bn buyouts respectively of Apollo Education and home security maker ADT, which were both announced last month....
...This year’s largest buyout so far, Apollo’s $15bn deal for home-alarm maker ADT, sold preferred stock to a subsidiary of Koch Industries, so that it would not have to fully refinance ADT’s bonds in markets...
...The way the dynamics of LBOs are changing is evident in the way Apollo structured its buyout of ADT, a security alarm firm....
...Between 2012 and 2014, ADT, the alarms business, bought back more than $2bn in stock, partly at the behest of activist fund Corvex; the buybacks were followed by a profit warning that the company blamed...
...ADT, which has over 24,000 employees, also has its own internal e-learning platform....
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