Done deal: Texas A&M buys Wesleyan law school after ABA OKs sale
Posted Aug 12, 2013 6:02 PM CDT
By Martha Neil
Texas Wesleyan University's law school is now part of Texas A&M University, following the completion of Texas A&M's plan to purchase the private law school in Fort Worth.
Texas A&M announced it has completed its acquisition of Wesleyan, which has been renamed the Texas A&M University School of Law and will become a public institution. The sale took place Monday, following approval of the purchase on Friday by the American Bar Association's Council of the Section of Legal Education and Admissions to the Bar, according to the National Law Journal (sub. req.) and the Star-Telegram.
The law school will remain in its current physical facilities, which Texas A&M is leasing from Texas Wesleyan University in installments totaling $8.2 million for the next five years, according to Texas Wesleyan spokesperson John Veilleux. After that, Veilleux says, Texas A&M has an option to buy the land and buildings for $11 million. Texas A&M purchased the law school for $54 million, which would bring the total to $73.2 million if the land is indeed purchased at the end of the fifth year. The purchase is expected to provide additional resources for the law school and help it achieve a higher profile.
ABAJournal.com (2012): "Texas A&M Partners with Texas Wesleyan to Buy Law School for $20M, Create Special Degree Programs"
Updated on Aug. 13 to include information from an interview with a Texas Wesleyan University spokesperson.