Connect with us

Tech Data shareholders say yes to going private, no to golden parachutes

February 13, 2020 - Shareholders of Tech Data Corp. (Nasdaq: TECD) overwhelming approved a $6 billion buyout of the IT distributor. Votes representing nearly 81 percent of the outstanding shares were cast in favor of the acquisition by Apollo Global Management at a meeting Wednesday at Tech Data’s Clearwater headquarters. Nearly 60 percent of the votes cast were opposed to a separate, non-binding proposal to pay millions of dollars in golden parachutes to Tech Data executives who lose their jobs in the deal, the company disclosed in a regulatory filing. When the deal closes, Tech Data, the largest company headquartered in the Tampa-St. Pete area, will become a privately owned company.

More Zaps Frontpage

The St. Pete Catalyst

The Catalyst honors its name by aggregating & curating the sparks that propel the St Pete engine.  It is a modern news platform, powered by community sourced content and augmented with directed coverage.  Bring your news, your perspective and your spark to the St Pete Catalyst and take your seat at the table.

Email us:

Subscribe for Free

Share with friend

Enter the details of the person you want to share this article with.