Tech Data to Sell to Apollo for $5.4 Billion
November 13, 2019
November 13, 2019
Cleary Gottlieb is representing Tech Data Corp. (Tech Data) in its sale to funds managed by Apollo Global Management Inc. (Apollo).
Each share of Tech Data common stock will be acquired for $130 per share in a transaction with an enterprise value of approximately $5.4 billion.
The merger agreement was signed on November 12, 2019, and the transaction was announced on November 13, 2019. The transaction is anticipated to close in the first half of 2020, subject to customary closing conditions, including regulatory approvals and approval by holders of a majority of the outstanding shares of Tech Data common stock.
Tech Data is one of the world’s largest technology distributors. Its end-to-end portfolio of products, services and solutions, highly specialized skills, and expertise in next-generation technologies enable channel partners to bring to market the products and solutions the world needs to connect, grow, and advance. Tech Data is ranked No. 88 on the Fortune 500 and has been named one of Fortune’s World’s Most Admired Companies for 10 straight years.
Apollo is a leading global alternative investment manager with approximately $323 billion in assets under management across credit, private equity, and real assets funds.
For more information, please see the press release here.