Tyco Integrated Security-Eli Lilly Case Shows Scary Exposure Security Providers Can Face
Security company prevails but had to persevere six years of uncertainty in $60 million lawsuit.
Security company prevails but had to persevere six years of uncertainty in $60 million lawsuit.
Federal jury rules in favor of security provider in $60 million case filed by Eli Lilly.
The security giant had sought reversal of its $27 million damages claim of a year ago.
ADT actively solicited alternative acquisition proposals during the 40-day period from 24 potential acquirers.
Lawyers for Eli Lilly blame lax control over computer data allowed burglars to steal more than $60 million of drugs in 2010.
The scammers use the disguise of ADT representatives to gain access to people’s homes.
The acquisition marks one of the biggest leveraged buyouts of a security company in the past few years.
SSI spoke to half a dozen industry stakeholders from across the financial, M&A, integration and consultant professions to gain a deeper perspective of the $7 billion mega deal for ADT Corp.
In a research report, Imperial Capital states there appears to be a large disconnect between the public and private market valuations for home security and home control companies.
ADT CEO: Transaction is ‘a highly attractive premium for ADT’s shareholders.’
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