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Tech Data sets Feb. 12 shareholder vote on $6 billion sale to Apollo Global

Apollo Global Management of New York has offered $6 billion for the Largo-based technology distributor.
Tech Data is based in Largo, where it employs 2,000 of its 14,000 workers.
Tech Data is based in Largo, where it employs 2,000 of its 14,000 workers. [ DIRK SHADD | Tampa Bay Times ]
Published Jan. 7, 2020

LARGO — Stockholders in Tech Data will vote on Feb. 12 whether to accept a $145-per-share offer from New York-based private equity firm Apollo Global Management.

Apollo originally bid $130 for Tech Data’s stock, then raised its offer just before Thanksgiving in response to a $140 offer from billionaire investor Warren Buffett.

If shareholders and regulators approve, the $6 billion sale is expected to close sometime early this year. When that happens, Tech Data, currently No. 88 on the Fortune 500 list of publicly traded U.S. companies, would become a privately held company and would no longer be traded on any stock exchange. The company’s shares closed at $143.88 on Monday.

No more rival bids for Tech Data, so $6 billion sale is on