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Home » Stock Market News » Apollo boosts takeover bid for Tech Data to $145 per share, APO shares hit a fresh all-time high, TECD shares little changed

Apollo boosts takeover bid for Tech Data to $145 per share, APO shares hit a fresh all-time high, TECD shares little changed

Written by Miroslav Marinov
Miroslav Marinov
Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.
, | Updated: October 30, 2024

Apollo Global Management (APO) was reported to have increased its takeover bid for Tech Data Corp (TECD) to $145 per share from $135 per share, after Tech Data got a rival offer from another company.

Under the new offer, the deal now has an enterprise value of approximately $6 billion.

Shares of Apollo Global Management closed higher for a fourth consecutive trading session in New York on Wednesday. It has also been the sharpest daily surge since November 1st. The stock went up 2.17% ($0.94) to $44.20, after touching an intraday high at $44.21 and also a fresh all-time high.

Meanwhile, shares of Tech Data Corp closed lower for a second consecutive trading session on NASDAQ on Wednesday. The stock inched down 0.02% ($0.03) to $129.00, after touching an intraday low at $128.87, or a price level not seen since November 21st ($128.43).

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