Tech Data deal clears regulatory hurdle
December 30, 2019 - Federal officials aren't raising any objections to the planned $6 billion sale of Tech Data Corp. (Nasdaq: TECD), a Clearwater-based IT distributor, to funds associated with Apollo Global Management. Both companies filed premerger notifications on Nov. 29 as required by the Hart-Scott-Rodino law, designed to alert regulators about planned mergers so they may perform a review of the action based on antitrust laws. The waiting period for a review expired late Dec. 26 satisfying one condition of the sale, Tech Data said in a Dec. 30 filing with the Securities and Exchange Commission. Provided Tech Data stockholders OK the sale and it receives other required regulatory approvals, the deal is set to close in the first half of 2020, when Tech Data, currently the largest publicly held company in the Tampa-St. Pete area, will become a private comapny.