Tech Data Corp shares rose as much as 15% after Reuters exclusively reported that private equity firm Apollo Global Management had approached the U.S. information technology equipment distributor with an offer to acquire it for close to $5 billion. Apollo’s move comes as Tech Data’s shares are already hovering at all-time highs, amid investor optimism that demand from small and medium-sized businesses for its offerings will remain strong despite concerns about the U.S. economy cooling.
Reuters reveals buyout firm Apollo Global in $5 billion bid for Tech Data; market reacts
15 October 2019, 12:00 am. 1 minute
Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Americas
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