ADT Corp. (ADT) Secures Over $1.5 Billion in New Investments From State Farm and Google
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RBC Capital Pleased with ADT State Farm/Google Investment, PT $9 (GOOG) (GOOGL) (ADT)
September 6, 2022 12:33 PM EDTRBC Capital analyst Ashish Sabadra reiterated an Outperform rating and $9.00 price target on ADT (NYSE: ADT).
The analyst comments "This morning, ADT announced State Farm will invest $1.2bn in ADT and commit up to $300mm, along with Google separately committing $150mm (incremental to its... More
ADT Corp. (ADT) Confirms Partnership with State Farm, Google
September 6, 2022 8:31 AM EDTADT Inc. (NYSE: ADT) and State Farm, the 100-year good neighbor and largest insurer of homes in the U.S. with 13.7 million homeowners policies in force, today announced that State Farm will make a $1.2 billion equity investment in ADT, resulting in State Farm owning approximately 15% of ADT after the equity investment and the tender offer close. Additionally, ADT plans to partner with State Farm, and build upon its existing relationship... More
ADT secures more than $1.5 billion investment from State Farm, Google
September 6, 2022 8:00 AM EDT(Reuters) -Home-security firm ADT Inc has secured an investment of $1.2 billion from State Farm as part of a partnership that it hopes will encourage the insurer's many customers to buy its smoke detection and anti-intrusion products.
The company said on Tuesday State Farm would purchase 133.3 million shares, or a near 15% stake, at $9 apiece and get a... More
ADT Corp. (ADT) Gets $1.5B Of New Investments From State Farm, Google - WSJ
September 6, 2022 7:31 AM EDT(Updated - September 6, 2022 7:39 AM EDT)
ADT Corp. (NYSE: ADT) has secured investments totaling $1.5 billion from State Farm, according to the Wall Street Journal.
Under the deal expected to be announced Tuesday, State Farm will spend $1.2 billion to buy 133.3 million shares. This... More
