In a recent Bloomberg News article, Thompson Coburn partner and Higher Education co-chair Emily Murphy weighed in on Northeastern University’s planned takeover of Marymount Manhattan College in New York City, which is expected to close this summer.
These types of transactions can take time to complete, as the U.S. Department of Education conducts a thorough review of both institutions’ finances to confirm continued eligibility for Title IV funding.
Emily said that other transactions have also seen long waiting periods, and some colleges have waited as much as three years for final approval.
It would be extremely rare for the Northeastern transaction to fall through at this point, she said. Emily has only seen one transaction in the last 20 years fail to win federal approval, due to one party’s financial instability.
“Northeastern obviously has solid financial standing and has been making investments into Marymount,” she said. “It’s not a shaky buyer.”
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