University of Phoenix plans to go public after failed University of Idaho deal

The company that owns the University of Phoenix plans to take the for-profit school public. The latest update comes in the aftermath of the University of Idaho failing to acquire the for-profit entity.

A filing made with the SEC reveals the plans for the University of Phoenix for an initial public offering.

The University of Idaho planned to acquire the for profit university for $685 million.

However, the Idaho attorney general filed a lawsuit to prevent the deal from moving forward due to allegations over open meeting violations. The Idaho State Board of Education decided to terminate the deal earlier this year.

That also meant the University of Phoenix paid the Idaho school more than $12 million in legal fees.

In 2019, the FTC reached a $190 million settlement with the University of Phoenix over deceptive advertising. The school did not admit wrongdoing as part of that settlement.