Shares of Tech Data Corp. soared 13% toward a record high in premarket trading Wednesday, after Reuters reported that Apollo Global Management made a bid to buy the information technology company for nearly $5 billion. The report, out late Wednesday, said Apollo would pay $130 for each Tech Data share, which represents a 17% premium to Tuesday's closing price of $111.34, and imply a market capitalization of about $4.63 billion. On Wednesday, Stifel Nicolaus analyst Matthew Sheerin reiterated his hold rating but raised his stock price target to $125 from $105.