Securities and Exchange Commission, seeking to allow Republic Industries Inc.

and Mourant & Co. Trustees to sell as many as 15.1 million ADT shares.

Under the registration, Republic, which in September dropped a $4 billion bid to buy ADT, will have the right to sell up to 15 million ADT shares. Mourant will have the right to sell up to 86,700 shares.

Republic, which last week announced four acquisitions totaling about $375 million, would raise about $331.9 million in proceeds from the sale of the ADT shares, based on ADT's closing share price of 22 1/8 on Friday. Republic's shares will be issued if the company exercises a warrant it received last year in connection with its dropped ADT bid.

Mourant holds the shares in trust for the benefit of an employees' share ownership plan of Automated Security Plc.

ADT won't receive any of the proceeds from the sale of these securities, the company said.

Republic dropped its offer to buy ADT, which sells home security systems, after the two sides couldn't agree on price for the stock swap. -- Bloomberg