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TEMPE, Ariz. (AP) — Arizona State University officials have signed a final agreement to acquire the Thunderbird School of Global Management and expect to close the deal by Dec. 31.
The non-profit, private Thunderbird school in Glendale has struggled financially.
A proposed venture with the for-profit Laureate Education was opposed by alumni and failed to receive approval from its education accreditor in March.
Thunderbird and ASU officials announced in July they had agreed on a letter of intent, outlining the general terms of the school being absorbed into ASU.
Both sides have been working toward a final deal during the past several months.
Thunderbird was first established in Glendale in 1946. Last fall, the school reported a student body of 530 in full-time programs and 482 in its online and executive MBA programs.
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