Apollo Education To Go Private; Cash Offer Valued At $9.50 Per Share

(RTTNews) - Apollo Education Group, Inc. (APOL) announced a definitive agreement to be acquired by a consortium of investors including The Vistria Group, LLC, funds affiliated with Apollo Global Management, LLC (APO), and Najafi Companies for $9.50 per share in cash. Upon completion of the deal, Apollo Education Group will be privately held.

The agreement was approved by Apollo Education Group's Board. The acquisition is expected to be completed in August 2016.

Tony Miller, COO and Partner of The Vistria Group and former Deputy Secretary of the U.S. Department of Education, will become Chairman of the Apollo Education Group Board.