Tyco/ADT Buys Brink's Home Security Holdings' Broadview
Tyco is paying $42.50 per share for the Irving, Texas-based company. That represents a premium of more than 35 percent over Brink's stock, which closed Monday at $31.42.
"This transaction provides us the opportunity to further strengthen our position in the residential and commercial security industry, while advancing Tyco's overall strategy to increase its presence in its core security, fire and flow control platforms," said Tyco Chairman and Chief Executive Officer Ed Breen. "Broadview's strong presence in the North American security market, significant recurring revenue and attractive margins will enhance ADT's financial performance and support our long-term growth in this large, fragmented and highly competitive industry."