Tech Data’s go-private deal with Apollo advances
December 10, 2019 - Tech Data Corp., a Clearwater IT distributor, is moving ahead with its $6 billion deal with Apollo Global Management, now that the "go-shop" period has expired. During the four weeks since the deal was announced, Tech Data was able to solicit better offers. The company has said it received one offer — reportedly from Berkshire Hathaway, the conglomerate headed by Warren Buffett — but turned it down after Apollo topped it. In announcing the end of the "go-shop" period at 11:59 p.m. last night, Tech Data, the largest company by revenue based in the Tampa-St. Pete area, did not say if it got any other offers. Funds affiliated with Apollo plan to buy Tech Data (Nasdaq: TECD) shares for $145 a share. The deal remains on track to close in the first half of 2020.