Big Law

Delaware State University Announces Acquisition of Wesley College

Delaware State University and Wesley College have announced a merger agreement, subject to a number of conditions. The two Dover institutions had earlier confirmed that talks were taking place. The Definitive Agreement calls for Delaware State University’s acquisition of Wesley College no later than June 30, 2021.

Prior to the actual acquisition, both institutions will look for ways to cut costs. DSU will also seek financial assistance to complete the acquisition to avoid weakening its financial condition.

“Despite so much uncertainty on many fronts nationally, this is a unique opportunity for the University and the State of Delaware. The time for bold innovation for young people is now, particularly for students who have made it to college by sheer determination against sometimes enormous odds,” said Delaware State University President Tony Allen.

Read the source article at Home – Delaware Business Now

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