New-and-improved offer for University of Phoenix operator passes muster
May 10, 2016
The shareholders of Apollo Education Group (NASDAQ: APOL) have voted to approve the company’s sale to Apollo Global Management, The Vistria Group and Najafi Companies for $10 per share in cash, a value of about $1.14 billion. The consortium had improved its offer after a previously agreed-upon deal of $9.50 per share failed to receive shareholder approval. Apollo Education has operated the for-profit University of Phoenix since 1976.