Apollo Education to be taken private in $1.1B deal

The parent company of the University of Phoenix announced Monday it would be acquired by a private consortium in a $1.1 billion deal.

Apollo Education Group Inc. (Nasdaq: APOL) was offered $9.50 per share by a group comprising Vistria Group LLC, Apollo Global Management LLC and private investment firm Najafi Cos.

The news comes roughly a month after Apollo Education announced it was considering a sale due to declining student enrollment, according to Reuters.

The per share price is more than 36 percent over the stock’s closing value of $6.98 on Friday.

Read more from Reuters.