logo
Plus   Neg
Share
Email

Tech Data: Apollo Funds Raise Offer Consideration

Tech Data (TECD) has entered into an amendment to its previous agreement for the acquisition by Funds managed by affiliates of Apollo Global Management (APO). The amendment increases the consideration to $145 per share in cash from $130 per share in cash, resulting in an enterprise value of approximately $6.0 billion, for the revised deal.

Tiger Midco, LLC, the affiliate of funds managed by affiliates of Apollo Global Management, proposed the revised offer as Tech Data has received a competing offer from another bidder. The Tech Data Board has approved the amended proposal and recommended that the company's shareholders vote in favor of the transaction. The deal is anticipated to close in the first half of calendar year 2020.

Tech Data will be permitted to continue to actively solicit alternative acquisition proposals from third parties during a go-shop period until Dec. 9, 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Airbnb has introduced few new rules to control parties and nuisances amidst the backlash the service received after the Halloween shooting at an Airbnb rental in a San Francisco. San Francisco-based Airbnb said it is banning "open invite" parties at all of its accommodations. The company is also banning... The U.S. Food and Drug Administration has approved three generic versions of Novartis' Gilenya capsule for treating relapsing forms of multiple sclerosis. "Approving safe and effective generics so patients have more treatment options continues to be a priority for the FDA," said Janet Woodcock, director... Shares of Upscale furniture chain RH (RH) are on a tear, on the heels of an upbeat annual forecast. Today, the stock set a new all-time high of $239.88.The stock is up more than 20% from its Dec 3 opening price of $196.66, and currently trading at $237.8, and nearly three-times its 52-week low of $84.11....
Follow RTT
>