Apollo Group Approaches BPP Over $447M Deal

Law360, New York (April 29, 2009, 12:00 AM EDT) -- Extending its reach into the U.K. professional training market, the investment arm of Apollo Group Inc., the company that runs the University of Phoenix, has approached education and training company BPP Holdings PLC to discuss a potential £303.5 million ($447 million) acquisition.

Apollo Global Inc., a $1 billion joint venture owned by Apollo and private equity firm The Carlyle Group LLC, recently contacted BPP’s board to discuss purchasing BPP’s shares at 620 pence per share, a 70 percent premium over BPP’s most recent closing price, both...
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