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Shareholders Approve $1.14-Billion Sale of U. of Phoenix Parent

Shareholders of the parent company of the University of Phoenix on Friday approved a deal to sell the company to a group of private investors for $1.14 billion, The Arizona Republic reported. Investors representing 54 percent of shares of the Apollo Education Group approved the deal. The sale is still subject to approval by several bodies, including the for-profit university’s accrediting agency and the U.S. Department of Education.

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