ADT/Protection 1 merger gets FTC go-ahead
BOCA RATON, Fla.—The ADT/Protection 1 merger passed one regulatory hurdle this week when the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act).
ADT announced that it received the FTC go-ahead on March 9. The acquisition of ADT by private equity group Apollo Global Management and planned merger with Protection 1 was announced Feb. 16.
The deal, which is expected to close in June, is still subject to other closing conditions including ADT stockholder approval.
Once the merger is complete, the combined company will operate "primarily under the ADT brand."