Bid/ask: Apollo Global wants to se­cure ADT; the $11.1 mil­lion quar­ter of a buf­falo

Bloomberg Businessweek (North America) - - News - By Kyle Stock

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.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.