8-K
filed September 2, 2021, 7:59 PM ET
ticker SNX
CIK 0001177394
M&A
confidence high
sentiment positive
materiality 1.00
SYNNEX completes $1.61B cash + 44M stock acquisition of Tech Data, creates TD SYNNEX
TD SYNNEX CORP
- Merger closed Sept 1; consideration $1.61B in cash plus 44M SYNNEX shares; legacy holders own ~54% of combined firm.
- Combined entity renamed TD SYNNEX; Rich Hume appointed CEO, Dennis Polk becomes Executive Chair of the Board.
- Board expanded to 11 directors; 4 Apollo nominees appointed per Investor Rights Agreement with Tiger Holdings.
- Refinanced with $2.5B senior notes, $1.5B term loan, and $3.5B revolver; will redeem ~$66M in 2022 and ~$131M in 2027 Tech Data notes.
- Terminated existing SYNNEX credit facilities, repaying $1B and $500M term loans in full.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Thomas Wurster resigned as Director at TD SYNNEX CORP.
- Action
- resigned
- Role
- Director
Exact text from the filing
Additionally, on September 1, 2021, Laurie Simon Hodrick, Kevin Murai, Dwight Steffensen, Thomas Wurster, and Andrea Zulberti resigned from the Board, and Matthew Nord, Robert Kaslow-Ramos, Nayaki Nayyar, and Merline Saintil were appointed thereto upon the nomination of Tiger Holdings pursuant to the terms of the Investor Rights Agreement, a summary of such terms of which are included in Item 1.01 and are incorporated herein by reference.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Nayaki Nayyar was appointed as Director at TD SYNNEX CORP.
- Action
- appointed
- Role
- Director
Exact text from the filing
Additionally, on September 1, 2021, Laurie Simon Hodrick, Kevin Murai, Dwight Steffensen, Thomas Wurster, and Andrea Zulberti resigned from the Board, and Matthew Nord, Robert Kaslow-Ramos, Nayaki Nayyar, and Merline Saintil were appointed thereto upon the nomination of Tiger Holdings pursuant to the terms of the Investor Rights Agreement, a summary of such terms of which are included in Item 1.01 and are incorporated herein by reference.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert Kaslow-Ramos was appointed as Director at TD SYNNEX CORP.
- Action
- appointed
- Role
- Director
Exact text from the filing
Additionally, on September 1, 2021, Laurie Simon Hodrick, Kevin Murai, Dwight Steffensen, Thomas Wurster, and Andrea Zulberti resigned from the Board, and Matthew Nord, Robert Kaslow-Ramos, Nayaki Nayyar, and Merline Saintil were appointed thereto upon the nomination of Tiger Holdings pursuant to the terms of the Investor Rights Agreement, a summary of such terms of which are included in Item 1.01 and are incorporated herein by reference.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Dwight Steffensen resigned as Director at TD SYNNEX CORP.
- Action
- resigned
- Role
- Director
Exact text from the filing
Additionally, on September 1, 2021, Laurie Simon Hodrick, Kevin Murai, Dwight Steffensen, Thomas Wurster, and Andrea Zulberti resigned from the Board, and Matthew Nord, Robert Kaslow-Ramos, Nayaki Nayyar, and Merline Saintil were appointed thereto upon the nomination of Tiger Holdings pursuant to the terms of the Investor Rights Agreement, a summary of such terms of which are included in Item 1.01 and are incorporated herein by reference.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Matthew Nord was appointed as Director at TD SYNNEX CORP.
- Action
- appointed
- Role
- Director
Exact text from the filing
Additionally, on September 1, 2021, Laurie Simon Hodrick, Kevin Murai, Dwight Steffensen, Thomas Wurster, and Andrea Zulberti resigned from the Board, and Matthew Nord, Robert Kaslow-Ramos, Nayaki Nayyar, and Merline Saintil were appointed thereto upon the nomination of Tiger Holdings pursuant to the terms of the Investor Rights Agreement, a summary of such terms of which are included in Item 1.01 and are incorporated herein by reference.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Merline Saintil was appointed as Director at TD SYNNEX CORP.
- Action
- appointed
- Role
- Director
Exact text from the filing
Additionally, on September 1, 2021, Laurie Simon Hodrick, Kevin Murai, Dwight Steffensen, Thomas Wurster, and Andrea Zulberti resigned from the Board, and Matthew Nord, Robert Kaslow-Ramos, Nayaki Nayyar, and Merline Saintil were appointed thereto upon the nomination of Tiger Holdings pursuant to the terms of the Investor Rights Agreement, a summary of such terms of which are included in Item 1.01 and are incorporated herein by reference.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Kevin Murai resigned as Director at TD SYNNEX CORP.
- Action
- resigned
- Role
- Director
Exact text from the filing
Additionally, on September 1, 2021, Laurie Simon Hodrick, Kevin Murai, Dwight Steffensen, Thomas Wurster, and Andrea Zulberti resigned from the Board, and Matthew Nord, Robert Kaslow-Ramos, Nayaki Nayyar, and Merline Saintil were appointed thereto upon the nomination of Tiger Holdings pursuant to the terms of the Investor Rights Agreement, a summary of such terms of which are included in Item 1.01 and are incorporated herein by reference.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Laurie Simon Hodrick resigned as Director at TD SYNNEX CORP.
- Action
- resigned
- Role
- Director
Exact text from the filing
Additionally, on September 1, 2021, Laurie Simon Hodrick, Kevin Murai, Dwight Steffensen, Thomas Wurster, and Andrea Zulberti resigned from the Board, and Matthew Nord, Robert Kaslow-Ramos, Nayaki Nayyar, and Merline Saintil were appointed thereto upon the nomination of Tiger Holdings pursuant to the terms of the Investor Rights Agreement, a summary of such terms of which are included in Item 1.01 and are incorporated herein by reference.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard T. Hume was appointed as Chief Executive Officer at TD SYNNEX CORP.
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
Effective as of the closing of the Mergers, and expressly conditioned thereupon, on September 1, 2021, Mr. Richard T. Hume was appointed as the Chief Executive Officer of SYNNEX and a member of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Dennis Polk was appointed as Executive Chair of the Board at TD SYNNEX CORP.
- Action
- resigned as Chief Executive Officer and appointed as the Executive Chair
- Role
- Executive Chair of the Board
Exact text from the filing
Effective as of the closing of the Mergers, and expressly conditioned thereupon, on September 1, 2021, Mr. Dennis Polk resigned as Chief Executive Officer of SYNNEX and was appointed as the Executive Chair of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Andrea Zulberti resigned as Director at TD SYNNEX CORP.
- Action
- resigned
- Role
- Director
Exact text from the filing
Additionally, on September 1, 2021, Laurie Simon Hodrick, Kevin Murai, Dwight Steffensen, Thomas Wurster, and Andrea Zulberti resigned from the Board, and Matthew Nord, Robert Kaslow-Ramos, Nayaki Nayyar, and Merline Saintil were appointed thereto upon the nomination of Tiger Holdings pursuant to the terms of the Investor Rights Agreement, a summary of such terms of which are included in Item 1.01 and are incorporated herein by reference.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ann Vezina was appointed as Lead Independent Director at TD SYNNEX CORP.
- Action
- appointed
- Role
- Lead Independent Director
Exact text from the filing
Additionally, as of September 1, 2021, Ann Vezina was appointed as the Lead Independent Director.
View on SEC.gov
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