Apollo Global Management completed the acquisition of Tech Data for $6bn.

Apollo Global Management completed the acquisition of Tech Data, a wholesale distributor of technology products, for $6bn. Through the agreement, the affiliate of the Apollo Funds acquired all of the outstanding shares of Tech Data common stock for $145 per share. Warren Buffett offered about $5bn for Tech Data but he declined to wage a bidding war against Apollo Global Management after the private-equity company hiked its offer for the technology distributor. “Through this investment, we are committed to expanding Tech Data’s position as a trusted partner to the world's leading technology vendors while providing best-in-class customer service. As a private company with our sponsorship and a strong balance sheet, Tech Data will have significant financial and strategic flexibility to drive growth going forward,” Matt Nord, Apollo Private Equity Co-lead Partner.