<span style="line-height: 18.9091px;">ADT Corporation&rsquo;s stock rose yesterday following the announcement that private equity firm Apollo Global would be acquiring the company for $42 a share in cash, an enormous premium over the company&rsquo;s previous close. ADT had one of the highest short interests heading into&nbsp;</span><span style="line-height: 18.9091px;">Tuesday</span><span style="line-height: 18.9091px;">&nbsp;with Bloomberg estimating that 21% of the public float was sold short and therefore the news resulted in one of the most painful short squeezes we&rsquo;ve seen in a while. With a deal on the table and a definitive agreement signed, this is a situation where the shorts have lost &ndash; to remain short ADT without a hedge or arbitrage position would be quite brave (and likely idiotic) especially given the fact that the stock closed 5.6% below the offer price.</span>