Apollo increases bid for Tech Data
| 28 November, 2019
Private equity firm Apollo Global Management has increased its bid for Tech Data to $6 billion. The move followed a late bid from an unnamed company. Appolo’s original bid of around $5.4 billion had been accepted by Tech Data shareholders.
Tech Data said: “The Tech Data Board of Directors has unanimously approved the Amendment and recommends that Tech Data shareholders vote in favor of the transaction. The transaction is not subject to a financing condition and is expected to close in the first half of calendar year 2020.”