Tiger Merger Sub Co. Extends Expiration Date to June 29, 2020 for Tender Offers and Consent Solicitations Relating to Tech Da...
June 26 2020 - 6:45PM
Tiger Merger Sub Co. (the “Offeror”), an affiliate of certain
investment funds managed by affiliates of Apollo Global Management,
Inc. (together with its consolidated subsidiaries, “Apollo”),
announced today that it has further extended the Expiration Date
(as defined in the Offer to Purchase (as defined below)) for the
previously announced Tender Offers and Consent Solicitations (each
as defined below) relating to Tech Data Corporation’s (i) 3.700%
Senior Notes due 2022 (the “2022 Notes”) and (ii) 4.950% Senior
Notes due 2027 (the “2027 Notes” and, together with the 2022 Notes,
the “Notes”). The Expiration Date was previously extended to June
26, 2020. As a result of this further extension, the Expiration
Date will now be 5:00 p.m., New York City time, on June 29,
2020 (unless further extended or earlier terminated).
As previously announced, on March 10, 2020, the
Offeror launched tender offers to purchase for cash (collectively,
the “Tender Offers”) any and all of the outstanding Notes of each
series. In connection with the Tender Offers, the Offeror also
commenced a solicitation of consents from the holders of each
series of Notes (collectively, the “Consent Solicitations”) to
amend the Indenture, dated as of January 17, 2017, as supplemented
in the case of the 2022 Notes by the Global Security for the 3.700%
Senior Note due 2022 and as supplemented in the case of the 2027
Notes by the Global Security for the 4.950% Senior Note due 2027,
as further amended or supplemented (the “Indenture”).
The Tender Offers and Consent Solicitations are
subject to the terms and conditions set forth in the Offer to
Purchase and Consent Solicitation Statement dated March 10, 2020,
relating thereto (the “Offer to Purchase”). 2022 Notes validly
tendered with consents after the Early Tender Date (as defined in
the Offer to Purchase) and prior to the Expiration Date will only
be eligible to receive the applicable Tender Consideration (as
defined in the Offer to Purchase). 2027 Notes validly
tendered after the Early Tender Date and prior to the Expiration
Date will only be eligible to receive the applicable Tender
Consideration (as defined in the Offer to Purchase). As
contemplated by the Offer to Purchase, the Offeror is no longer
accepting consents with tenders of 2027 Notes and therefore holders
of 2027 Notes are no longer required to deliver consents with
tenders of 2027 Notes. Any Notes previously tendered or tendered at
a future time may no longer be validly withdrawn (except as
required by law).
As of 5:00 p.m., New York City time, on June 26,
2020, the previous Expiration Date, the Offeror has been advised by
Global Bondholder Services Corporation, the tender agent and
information agent for the Tender Offers and Consent Solicitations,
that Notes were validly tendered and not withdrawn with respect to
(i) $434,143,000 aggregate principal amount of the 2022 Notes,
representing approximately 86.83% of the outstanding 2022 Notes,
and (ii) $369,386,000 aggregate principal amount of the 2027 Notes,
representing approximately 73.88% of the outstanding 2027
Notes.
The Tender Offers and Consent Solicitations are
being conducted in connection with the previously announced merger
agreement pursuant to which, among other things, Tiger Midco, LLC,
the parent of the Offeror, has agreed to acquire Tech Data
Corporation (the “Merger”). The Offeror’s obligation to accept and
pay for the Notes tendered in each Tender Offer is conditioned upon
the substantially concurrent closing of the Merger and the
satisfaction or waiver of certain other conditions precedent.
This announcement does not constitute an offer
to sell any securities or the solicitation of an offer to purchase
any securities. The Tender Offers and Consent Solicitations
are being made only pursuant to the Offer to Purchase. The
Tender Offers and Consent Solicitations are not being made to
holders of Notes in any jurisdiction in which the making or
acceptance thereof would not be in compliance with the securities,
blue sky or other laws of such jurisdiction. In any
jurisdiction in which the securities laws or blue sky laws require
the Tender Offers and Consent Solicitations to be made by a
licensed broker or dealer, the Tender Offers and Consent
Solicitations will be deemed to be made on behalf of the Offeror by
one or more registered brokers or dealers that are licensed under
the laws of such jurisdiction.
Credit Suisse Securities (USA) LLC, Mizuho
Securities USA LLC and RBC Capital Markets, LLC are acting as
dealer managers and solicitation agents for the Tender Offers and
Consent Solicitations. Global Bondholder Services Corporation is
acting as the tender agent and information agent for the Tender
Offers and Consent Solicitations.
Requests for documentation may be directed to
Global Bondholder Services Corporation at (212) 430-3774 (for
brokers and banks) or (866) 807-2200 (for all others).
Questions or requests for assistance may be
directed to Credit Suisse Securities (USA) LLC at (212) 538-1862,
Mizuho Securities USA LLC at (212) 205-7736 or RBC Capital Markets,
LLC at (212) 618-7843.
About Apollo
Apollo is a leading global alternative
investment manager with offices in New York, Los Angeles, San
Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg,
Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Apollo had
assets under management of approximately $316 billion as
of March 31, 2020 in credit, private equity and real
assets funds invested across a core group of nine industries where
Apollo has considerable knowledge and resources. For more
information about Apollo, please visit www.apollo.com.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of applicable federal securities
laws. The forward-looking statements include, without
limitation, statements concerning the Tender Offers and Consent
Solicitations. Forward-looking statements involve risks and
uncertainties, including but not limited to economic, competitive,
and technological factors outside the Offeror’s or Tech Data
Corporation’s control that may cause actual results to differ
materially from the forward-looking statements. You should not
place undue reliance on forward-looking statements as a prediction
of actual results. The Offeror expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in expectations or events, conditions or circumstances on which any
such statements are based.
Apollo Contacts:For investor
inquiries regarding Apollo, please contact:
Gary M. SteinHead of Investor RelationsApollo Global Management,
Inc.212-822-0467gstein@apollo.com
For media inquiries please contact:Joanna RoseGlobal Head of
Corporate CommunicationsApollo Global Management, Inc.(212)
822-0491jrose@apollo.com
Apollo Global Management (NYSE:APO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Apollo Global Management (NYSE:APO)
Historical Stock Chart
From Apr 2023 to Apr 2024