According to a statement issued Monday by ADT parent company Tyco International, the company said it expects to close its acquisition of Brink’s Home Security on May 14, pending the approval of Brink’s shareholders at a special meeting to be held on May 12.
The company also announced the preliminary results of the merger consideration elections made by Brink's shareholders as to the form of merger consideration they wish to receive in connection with the acquisition, be it cash, Tyco stock or a combination of the two.
As of last week’s deadline, Brink’s shareholders elected to receive cash for 81.2 percent of the company’s outstanding shares. Approximately 2.6 percent of the company’s outstanding shares will be exchanged for Tyco stock, while 4.1 percent will be swapped for a combination of cash and Tyco stock.
The final results of the merger consideration elections are expected to be announced when the deal is finalized on May 14.