Reports: Home security co. ADT preps IPO

Dan Primack, author of Pro Rata

Apollo Global Management is prepping an IPO for Boca Raton, Fla.-based-based home security company ADT, as first reported by the WSJ. Registration papers could be filed in the fall, with the listing to occur before year-end.

  • Why it's a big deal: This would be an incredibly quick flip. Apollo purchased ADT just 17 months ago, taking it private for $6.9 billion and then combining it with existing portfolio company Protection One (which itself was created via an Apollo-sponsored merger with ASG Security).
  • Price talk: Reports suggest that Apollo is seeking an enterprise value just north of $15 billion. That figure is notable, because Apollo said the combined ADT-Protection One was worth $15 billion in a statement on the original purchase. But before you think this would be a flat return for Apollo, recall that there already was an $800 million dividend recap earlier this year.

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Axios
Updated 32 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave — France imposes lockdown — Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed — MLB to investigate Dodgers player who joined celebration after positive COVID test.
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Caitlin Owens, author of Vitals
40 mins ago - Health

Large coronavirus outbreaks leading to high death rates

Data: The COVID Tracking Project; Chart: Sara Wise/Axios

Many of the states where coronavirus cases have recently skyrocketed are also seeing the highest death rates in the nation, a painful reminder that wherever the virus goes, death eventually follows.

Between the lines: Deaths usually lag behind cases by a few weeks. Given America's record-high case counts, it's reasonable to expect that death rates across the country will continue to rise in tandem.

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Amy Harder, author of Generate
1 hour ago - Science

Pandemic scrambles Americans' acceptance of science

Illustration: Sarah Grillo/Axios

The pandemic is throwing a wrench into Americans' understanding of science, which has big implications for climate change.

Driving the news: Recent focus groups in battleground states suggest some voters are more skeptical of scientists in the wake of the coronavirus pandemic, while surveys reveal the persistence of a deep partisan divide.

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