SYNNEX Corporation Announces Receipt of All Required
Regulatory Approvals for Pending Merger with Tech Data
Reaffirms financial outlook for fiscal third quarter
FREMONT, Calif., Aug. 27, 2021 /PRNewswire/ -- SYNNEX Corporation (NYSE: SNX), a leading provider of distribution, systems design and integration services for the technology industry, today announced that all required regulatory approvals to complete the proposed merger with Tech Data have now been received and the transaction is expected to be completed on or around September 1, 2021, subject to the satisfaction or waiver of the remaining customary closing conditions set forth in the merger agreement.
SYNNEX also expects its financial results for the third fiscal quarter ending August 31, 2021 to be within the guidance range issued in its June 24, 2021 earnings press release.
SYNNEX Corporation (NYSE: SNX) is a Fortune 200 corporation and a leading provider of a comprehensive range of distribution, systems design and integration services for the technology industry to a wide range of enterprises. Founded in 1980, SYNNEX Corporation operates in numerous countries throughout North and South America, Asia-Pacific and Europe. Additional information about SYNNEX may be found online at synnex.com.
Safe Harbor Statement
Statements in this news release regarding SYNNEX Corporation that are not historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may be identified by terms such as believe, foresee, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements regarding the expected timing of the completion of the merger, and our expectations and outlook for the fiscal third quarter. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. Risks and uncertainties include, among other things, risks related to the satisfaction of the remaining conditions to closing the acquisition in the anticipated timeframe or at all; the unfavorable outcome of any legal proceedings that have been or may be instituted against SYNNEX, Tech Data or the combined company; negative effects of this announcement or the consummation of the proposed acquisition on the market price of the capital stock of SYNNEX, and on SYNNEX' and Tech Data's operating results; significant transaction costs, fees, expenses and charges; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed acquisition; the financing of the transaction; other business effects, including the effects of industry, market, economic, political, regulatory or world health conditions (including new or ongoing effects of the COVID-19 pandemic); future exchange and interest rates; changes in tax and other laws, regulations, rates and policies; future business combinations or disposals; and competitive developments. A further description of risks and uncertainties relating to SYNNEX can be found in its most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, all of which are filed with the SEC and available at www.sec.gov. SYNNEX does not assume any obligation to update the forward-looking statements contained in this document as the result of new information or future events or developments.
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