(Reuters) - Tech Data Corp’s (TECD.O) “go-shop” period, during which it was looking for alternative acquisition proposals, has ended, the company said on Tuesday, paving the way for it to be taken private by Apollo Global Management Inc (APO.N).
The “go-shop” period began on Nov. 12 after Tiger Midco, an affiliate of the private equity firm Apollo, agreed to buy Tech Data last month at $130 per share, valuing the technology equipment distributor at $4.77 billion.
The period expired at 2359 ET on Dec. 9, Tech Data said in a statement.
During the “go-shop” period, Apollo raised its bid to $145 per share after billionaire investor Warren Buffett’s Berkshire Hathaway Inc (BRKa.N), according to a CNBC report, made a competing offer of $140 per share.
Apollo’s raised offer valued the deal at about $6 billion, including debt. Excluding debt, it was valued at about $5.14 billion.
The deal is expected to close in the first half of 2020, Tech Data said.
Reporting by Kanishka Singh in Bengaluru; Editing by Arun Koyyur