Plus   Neg

Apollo Funds To Acquire Tech Data For $130 Per Share - Quick Facts

Tech Data (TECD) has reached an agreement under which an affiliate of funds managed by affiliates of Apollo Global Management, Inc. (APO) will acquire Tech Data common stock for $130 per share in a deal with an enterprise value of approximately $5.4 billion. The Tech Data Board recommended its shareholders vote in favor of the acquisition.

Tech Data will be permitted to actively solicit alternative acquisition proposals during a go-shop period from the date of the agreement until Dec. 9, 2019.

Following the close of the deal, Tech Data will become a privately held company, and the company's common shares will no longer be publicly listed.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The media mogul and Billionaire Sumner Redstone passed away on Tuesday at the age of 97, his family's holding company National Amusements said in a statement on Wednesday. He was Chairman Emeritus of ViacomCBS and chief executive officer of National Amusements. Customers in the U.S. are preferring digital or touchless payment methods due to concerns arising from the COVID-19 pandemic, a survey said. According to the survey by Rapyd Financial Network, the coronavirus pandemic has raised health and safety concerns around using cash and coins, and is accelerating the pre-existing trend toward digital transactions. American Airlines has extended its offer to waive change fees for customers who purchase tickets for travel, until December 31, 2020 in response to lower travel demand due to the coronavirus pandemic. This means that the travelers need not pay penalties for changing the origin and destination cities.
Follow RTT