Josh Kushner's Thrive Holdings to buy Boca Raton's ADT

Thrive Holdings, a company set up by Josh Kushner's Thrive Capital (Kushner is Jared Kushner's brother), agreed on Oct. 29 to buy ADT, the Boca Raton home security company, for $10 a share in cash. That is 45.6% above ADT's Oct. 27 close, and the deal values ADT at about $15.3 billion in enterprise value, including debt. Funds tied to Apollo Global Management are providing all the financing.

Why it matters: a Florida public company with more than 12,000 employees would go private. ADT can seek other offers through Nov. 28, with a possible extension; closing is expected in early 2027. Advisers: Citi, Goldman Sachs and law firm Cravath for ADT; Evercore and law firm Kirkland & Ellis for Thrive.