The Chronicle New Blog: Stockholders Back Plan for Private Buyout of For-Profit Colleges
The shareholders of Concorde Career Colleges, a publicly traded higher-education company, have formally approved a plan to take the company private. The deal, which shareholders endorsed on Thursday, involves a $114-.5-milllion buyout by a unit of Liberty Partners, a private-equity group based in New York City. Concorde, which is based in Mission, Kan., and operates 12 colleges in seven states, announced the acquisition in June (The Chronicle, June 23).
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