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ISS Tells Apollo Education Shareholders to Reject Takeover

  • Standalone strategy `more compelling,' voting adviser says
  • Investors scheduled to vote on deal at meeting on April 28
Updated on

Apollo Education Group Inc. shareholders should reject a $1.1 billion takeover bid by a group of private-equity firms because the deal is based on an “extraordinarily low valuation,” a voting adviser said.

Institutional Shareholder Services Inc. said the $9.50 offer should be rebuffed because the upside for Apollo Education as a standalone company is “more compelling than its risks,” according to a report published last week. Investors are scheduled to vote on April 28.