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Buyout firm Apollo Global sweetens bid for Tech Data

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Sanjana Shivdas Reuters
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Credit: REUTERS/LUCY NICHOLSON

Private equity Apollo Global Management has raised its bid to acquire Tech Data to a deal valued at about $6 billion, the U.S. information technology equipment distributor said on Wednesday.

Nov 27 (Reuters) - Private equity Apollo Global Management APO.N has raised its bid to acquire Tech Data TECD.O to a deal valued at about $6 billion, the U.S. information technology equipment distributor said on Wednesday.

Excluding debt, the deal is valued at about $5.14 billion, according to Reuters calculations.

Tech Data shareholders will receive $145 per share in cash, up from a previous offer of $130 per share.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Aditya Soni)

((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 1642; Twitter: @SanjanaShivdas;))

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