ADT to Be Acquired by Tyco International

Burglar-alarm company ADT Ltd. has agreed to be acquired by friendly suitor Tyco International Ltd. for $5.6 billion. The deal leaves the next step to Western Resources Inc., the big Midwestern utility that has been trying to take over ADT since December. Exeter, N.H.-based Tyco, best known as a maker of fire extinguishers, alarms and other related products, is offering $29 a share in stock for ADT. That compares with the $22.50 cash and stock bid of Western, which is ADT’s largest shareholder, with 27% of its stock. Shares of Bermuda-based ADT shares surged $3.875 to close at $25.625, while Tyco lost $2 to close at $58.25. Both trade on the New York Stock Exchange. Topeka, Kan.-based Western gained 87.5 cents to close at $31, also on the NYSE.