Warren Buffett's Berkshire Hathaway placed a bid to acquire Tech Data, CNBC reports. The Berkshire bid prompted Apollo Global Management to increase its offer for Tech Data to $6 billion, including debt.
Apollo is largely expected to acquire the technology distributor. But there could be some drama between now and December 9. Indeed, Tech Data has a "go shop" window -- which allows the technology distributor to solicit additional buyout offers for the company through that date.
It sounds like Berkshire Hathaway won't sweeten its bid for Tech Data, according to CNBC. And it's unclear whether the value-focused investment firm is in the market for an alternative IT distribution acquisition target.
Additional distributors may be up for sale. Among the potential targets private equity firms have been watching: HNA Group's Ingram Micro. Although Ingram Micro's business has been strong, parent HNA Group has been seeking to sell some assets to strengthen its balance sheet.
