AC3 - AU sign agreement for purchase of Antioch College

Calling it an "historic agreement," the Great Lakes Colleges Association (GLCA) announced today that the Antioch College Continuation Corporation and Antioch University have signed the long-awaited agreement for the Antioch College Aumni to purchase Antioch College and run it independently from the University.

"The target date to implement the full agreement – an asset purchase agreement (APA) -- is August 31. The transfer of assets cannot occur until a list of conditions have been met, including required reviews and approvals from external agencies such as the Attorney General for the State of Ohio and representatives of the University’s bond holders. The boards and their representatives will collaborate to expedite this process. When the conditions have been met, Antioch University will transfer to the Antioch College Continuation Corporation assets associated with the historic College including its endowment, campus and the Glen Helen nature preserve. The consideration for the transfer of assets is $ 6,080,000," the release said in part.

According to the release, AC3 anticipates two years of work before it can begin to accept students.

Click here to read the GLCA Press Release