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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Tech Data Corporation    TECD

TECH DATA CORPORATION

(TECD)
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TECH DATA : TO APPEAL FRENCH COMPETITION AUTHORITYS ANTITRUST DECISION BARCELONA

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03/24/2020 | 07:47am EDT

Tech Data (https://channelstar.us14.list-manage.com/track/click?u=cb64b975bf45371e740fe24cc&id=1c80d853a3&e=244bc0ef58) (Nasdaq: TECD) today announced it disagrees with and will be appealing the findings and legal reasoning of the French Competition Authority (FCA) in its decision against Tech Data. The case concerns the FCAs antitrust investigation regarding the distribution of Apple products (excluding the iPhone) in France between 2005 and 2013.

In addition, Tech Data wishes to clarify that the FCAs decision concerns alleged anticompetitive vertical agreements between Apple and its wholesalers regarding volume allocations of Apple products and not cartel practices, as the FCAs original English press release of March 16 suggested. The English version of the press release has since then been corrected accordingly. In the decision, the FCA also imposed fines on Apple for two additional allegedly anticompetitive practices. However, Tech Data has not been accused of participation in any of these practices.

Tech Data continues to abide by strong ethical and legal compliance standards, as per the Companys Global Code of Conduct (https://channelstar.us14.list-manage.com/track/click?u=cb64b975bf45371e740fe24cc&id=1b99223be3&e=244bc0ef58) . In the area of competition law, Tech Data is committed to competing independently in the marketplace in full compliance with all applicable antitrust and competition laws wherever the company operates. In support of this, Tech Data has a thorough Compliance and Ethics training program that includes formal e-learning and instructor-led training offered in multiple languages, so all employees know, understand, and can easily follow our policies. These programs are reviewed and updated on a regular basis with a focus on ensuring compliance, protecting employees and maintaining service to Tech Datas channel partners.

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About Tech Data

Tech Data connects the world with the power of technology. Our end-to-end portfolio of products, services and solutions, highly specialized skills, and expertise in next-generation technologies enable channel partners to bring to market the products and solutions the world needs to connect, grow and advance. Tech Data is ranked No. 88 on the Fortune 500^ and has been named one of Fortunes Worlds Most Admired Companies for 11 straight years.

To find out more, visit www.techdata.com (https://channelstar.us14.list-manage.com/track/click?u=cb64b975bf45371e740fe24cc&id=433b41824a&e=244bc0ef58) or follow us on Twitter (https://channelstar.us14.list-manage.com/track/click?u=cb64b975bf45371e740fe24cc&id=4a55051730&e=244bc0ef58) ,

LinkedIn (https://channelstar.us14.list-manage.com/track/click?u=cb64b975bf45371e740fe24cc&id=e9cafa162b&e=244bc0ef58) ,

Facebook (https://channelstar.us14.list-manage.com/track/click?u=cb64b975bf45371e740fe24cc&id=103c11177c&e=244bc0ef58) and

Instagram (https://channelstar.us14.list-manage.com/track/click?u=cb64b975bf45371e740fe24cc&id=06eb19d955&e=244bc0ef58) .

Media Contact: Bobby Eagle Director, External Communications, Tech Data +1 (727) 538 5864

** Neville Street Channelstar Media T: 01743 246917 M: 07967 717259 E: nev@channelstar.co.uk (mailto:nev@stellasix.com)

.

(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2021 34 581 M
EBIT 2021 604 M
Net income 2021 323 M
Debt 2021 -
Yield 2021 -
P/E ratio 2021 14,8x
P/E ratio 2022 11,5x
Capi. / Sales2021 0,14x
Capi. / Sales2022 0,13x
Capitalization 4 694 M
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 145,33 $
Last Close Price 132,24 $
Spread / Highest target 10,4%
Spread / Average Target 9,90%
Spread / Lowest Target 9,65%
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Managers
NameTitle
Richard T. Hume Chief Executive Officer & Director
Chris Wilkinson President
Robert M. Dutkowsky Executive Chairman
Charles Val Dannewitz Chief Financial Officer & Executive Vice President
John A. Tonnison Chief Information Officer & Executive VP
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