|Company name||Tech Data Corporation|
NEW YORK, November 13, 2019 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder law firm, has launched an investigation into whether the board members of Tech Data Corporation (NASDAQ: TECD) breached their fiduciary duties or violated the federal securities laws in connection with the company’s proposed sale to an affiliate of Apollo Global Management, Inc.
On November 13, 2019, Tech Data announced that it had signed an agreement to be acquired by Apollo for $130 per share in cash, or a total of $5.4 billion. The deal is scheduled to close in the first half of 2020. Bragar Eagel & Squire is concerned that Tech Data’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Tech Data stockholders.