Apollo Education Hires Barclays, Credit Suisse To Explore Strategic Options

Apollo Education Group Inc. said Monday it has retained Barclays and Credit Suisse to advise it as it explores its strategic options. The private education company said it is currently in talks that could lead to a change of control of the company. "The board believes that these actions will support and accelerate Apollo's strategic initiatives, which include the continued growth and investment in Apollo Global and the continuation of the University of Phoenix's transformation plan to further enhance student outcomes and provide outstanding, career relevant higher education for working adults," the company said in a statement. Shares were indicating higher premarket, but are down 75% in the last 12 months, while the S&P 500 has fallen 6%.