The company that owns the for-profit college chain University of Phoenix announced Monday it was in final negotiations to be sold to a group of private investors. Apollo Education Group Inc. wrote in a news release it planned to be acquired by the Vistria Group, Najafi Companies and funds with Apollo Global Management, which isn't affiliated with the current owners, by August. The $1.1 billion deal comes after months of layoffs and a White House push to better regulate the controversial for-profit college industry.
