UK - Carlyle-backed Apollo Global to acquire BPP in £300m deal

For the deal to complete, Apollo's offer of 620 pence per share has to be approved by 75% of a poll of shareholders. In late afternoon trading yesterday, BPP shares were up to 617 pence. When deal talks initiated at the end of April, the company's shares jumped 70% from their previous closing price of 365 pence.

BPP is the UK's only for-profit business college with the ability to award degrees - one of the reasons Apollo was said to be interested in the company. Carlyle has a 20% stake in Apollo Global, while listed US education provider Apollo Group has an 80% majority holding.

The deal is expected to be completed by the end of July.

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