Apollo Education to Be Taken Private in $1.1 Billion Deal

  • Private equity group pays 44 percent premium for company
  • For-profit education sector is under regulatory pressure

Apollo Global Management and other investors agreed to buy Apollo Education Group Inc., owner of the University of Phoenix, as for-profit schools struggle to win back the trust of students and regulators after an industry scandal uncovered examples of high tuition and paltry results.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.