Stock Market Today, Oct. 29: ADT Surges 33% on $10 Per Share All-Cash Acquisition Deal
ADT (NYSE:ADT) , a home security and smart-home monitoring services provider, closed at $9.88, up 33.33%. The stock jumped after ADT said it would be acquired for $10.00 per share in cash, and investors are watching the transaction close. Trading volume reached 157.7M shares, about 1,486% above its three-month average of 9.9M shares. ADT IPO'd in 2018 and has fallen 20% since going public. The S&P 500 (SNPINDEX:^GSPC) fell 0.31% to 7,720, while the Nasdaq Composite (NASDAQINDEX:^IXIC) declined 1.38% to 26,185. Among security, automation, and smart home solutions for residential and small-business customer peers, Resideo Technologies (NYSE:REZI) closed at $18.81, up 2.73%, and Johnson Controls International (NYSE:JCI) finished at $158.19, up 0.53%. ADT's run on the public markets appears to be nearing an end after its board voted unanimously to approve an all-cash, $10 per share buyout offer from private equity firm Thrive Holdings. The offer is roughly a 50% premium over ADT's 30-day average. Continue reading