tech data synnex merger new name
March 23 2021. The combined business led by CEO Rich Hume is now called TD Synnex.
Important Information Additional Information And Where To Find It In Connection With The Proposed Transaction Between Synnex Corporation Synnex And Tiger Parent Ap Corporation The Parent Corporation Of Tech Data Corporation A
Distribution Stays Red Hot.
. This is the latest mega-deal in the distribution space Apollo bought Tech Data in a pandemic-spanning 8-month transaction valued at 59 billion in. Synnex and Tech Data expect to close their 72 billion distribution merger on or about September 1 Synnex says. Once the merger closes the combined company will be 55 percent owned by Synnex shareholders and 45 percent owned by Apollo Global management which bought Tech.
Apollo Funds would receive 44 million shares of Synnex refinancing of existing Tech Data net debt and redeemable preferred shares of 27 billion under the arrangement. The 72 billion merger of publicly traded Synnex and private equity owned Tech Data which was first unveiled on March 22 - will be 55 percent owned by Synnex. Dennis Polk formerly the CEO of SYNNEX is Executive Chair of the TD SYNNEX Board of Directors.
Synnex is merging with Tech Data a previously publicly-traded competitor that was bought out by Apollo last year only to re-emerge from the private equity chop shop in this deal. TD SYNNEX will serve more than 100 countries in the Americas Europe and Asia-Pacific with a comprehensive portfolio of high value products and service offerings SYNNEX. The combined company will go by the name of TD Synnex and will be led by Tech Data CEO Rich Hume with former Synnex boss Dennis Polk becoming executive chairman of.
Synnex and Tech Data as expected completed their merger today. Tech Data and Synnex finalise 72bn merger and reveals new name Combined company owned by Synnex shareholders and Apollo Global Management to provide best-in. Has agreed to acquire Clearwater-based Tech Data in a deal valued at more than 7 billion.
Synnex and Tech Data expect to close their 72 billion distribution merger on or about September 1 Synnex says. The transaction remains subject to the satisfaction of regulatory approvals and customary closing. Approval by SYNNEX stockholders is a condition to the closing of the merger.
The combined company is now TD SYNNEX led by Rich Hume as CEO. By Sharon Florentine Sep 1 2021. SYNNEX Corporation and Tech Data announced they have entered into a definitive merger agreement under which SYNNEX and Tech Data will combine.
It also offers a broad range of technical and business support services. Synnex Corp to merge with Tech Data in 72 bln deal. Currently Tech Data is merging with Synnex in a technology distribution deal worth 72 billion.
Private equity firm Apollo Global Management will own.
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