Apollo raises Tech Data offer to $145/share after rival bid

Apollo Global Management (NYSE:APO) raised its Tech Data (NASDAQ:TECD) takeover bid to $145/share up from $135/share, after Tech Data received a competing offer from another bidder.

The revised purchase price of $145/share represents a 30.2% premium to the closing share price ending Oct. 15, the last day prior to market M&A speculation.

The revised deal has an enterprise value of ~$6B.

Go-shop period expires on Dec. 9, 2019.

Prior: Apollo Global acquiring Tech Data for $5.4B


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