Bid/ask: Apollo Global wants to secure ADT; the $11.1 million quarter of a buffalo
Apollo Global Management strikes a deal to nab ADT. The private equity giant plans to merge the home- security company with its Protection 1, an ADT rival. The agreement includes a 40-day “go shop” period in which ADT can consider other offers. Analysts say competing bids might come from cable and phone companies, which are beefing up their security offerings.
$1.3b Stryker buys Physio-control. The maker of defibrillators is the latest target in a string of Stryker acquisitions. Consolidation gives medical-device makers more clout with thrifty hospitals.
$1.1b Vodafone connects with Liberty Global. The telecommunications companies are combining units in the Netherlands to better compete with market leader KPN.
$1b Freeport-mcmoran flips a copper mine. Sumitomo Metal Mining bought a 13 percent stake in the Arizona pit, as Freeport struggles to handle debt after a fall in copper prices.
$250m Hollywood looks to Asia. China-based Perfect World Pictures struck a five-year deal to back some 50 films from Universal Pictures. Profit-sharing details weren't disclosed.
$62.5m DSW goes shoe shopping. The retailer snapped up Ebuys to bolster its online business and expand abroad. Ebuys is the parent of Shoe metro and Apparel save.
$22.5m Staples offloads business clients to Essendant. The deal for a number of wholesale contracts is expected to help Staples' planned merger with Office Depot clear antitrust hurdles.
$11.1m A bullish buffalo. An African buffalo named Horizon earned a record valuation when a South African businessman bought a one-quarter share. The beast is prized for breeding.