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Report: Apollo Global Management makes $5B offer for Tech Data

Apollo Global Management Inc. plans to acquire U.S. information technology equipment distributor Tech Data Corp. for about $5 billion, Reuters reported, citing people familiar with the matter.

Apollo offered to pay about $130 per share in cash for Tech Data, the news outlet reported, citing one of the sources.

There is no certainty that Tech Data will engage in negotiations or the deal will occur, the source added.

Apollo declined to comment and Tech Data did not respond to a request for comments.

Tech Data has a market cap of $4 billion and provides information technology infrastructure to corporate resellers, direct marketers and retailers, according to the report.