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

(RTTNews) - 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.