Apollo Education to be taken private by investor group

Apollo Education on Monday said it has agreed to be taken private by a group a investors in a deal valued at about $1.1 billion.

The investors include The Vistria Group, funds affiliated with Apollo Global Management, and Najafi Cos. for $9.50 per share in cash for both Class A and B shares. The offer price is a 36.7 percent premium to Apollo Education's Friday's close.

The deal is expected to be complete by August 2016.