Home | Print Page | Contact Us | Sign In | Membership
News & Press: Latest News

Tech Data Enters Definitive Agreement to Be Acquired by Funds Managed by Affiliates of Apollo Global

Wednesday, November 13, 2019  

Tech Data Enters Definitive Agreement to Be Acquired by Funds Managed by Affiliates of Apollo Global Management for $130 Per Share in Cash

11/13/2019 

CLEARWATER, Fla.--(BUSINESS WIRE)-- Tech Data (Nasdaq: TECD) today announced it has entered into a definitive agreement to be acquired by an affiliate of funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (NYSE: APO), a leading global alternative investment manager (“Apollo”). Through the agreement, the affiliate of the Apollo Funds will acquire all of the outstanding shares of Tech Data common stock for $130 per share in a transaction with an enterprise value of approximately $5.4 billion. 

The purchase price represents a 24.5 percent premium to the unaffected 30-day volume weighted average closing share price of Tech Data’s common stock ended Oct. 15, 2019, the last trading day prior to published market speculation regarding a potential transaction involving the company. 

Click here for the full story.