The American Bar Association has given its blessing to the sale of the Texas Wesleyan University School of Law to Texas A&M University.
The ABA's Council of the Section of Legal Education and Admissions to the Bar on Friday formally approved the sale, meaning the deal has cleared its final regulatory hurdle. The Southern Association of Colleges and Schools Commission of Colleges, a regional accrediting body, signed off on the transaction several weeks ago.
"We are very pleased with the ABA's formal decision," Texas Wesleyan president Frederick Slabach said. "Many staff and faculty at both universities have been working long hours over the last year to get us to this point."
The two universities announced in June 2012 that they had agreed upon the sale for an initial $20 million with an additional $5 million due within five years.
The Fort Worth, Texas, law school will be rebranded the Texas A&M University School of Law. The school's website is already using the new name.
The school will remain in its current location; Texas A&M will rent the facilities from Texas Wesleyan. More significantly, it will shift from a private to a public institution. Texas A&M leaders have said they view the acquisition as way to diversify their professional program offerings.
When the sale was announced, Texas A&M President R. Bowen Loftin said the university aimed to raise the stature of the law school, now in the unranked third tier in the U.S. News & World Report rankings. Slabach said Texas A&M had more resources available to invest in improving the law school than did Texas Wesleyan.
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