MSN – Purdue University said Thursday it will buy for-profit Kaplan University for $1, with plans to turn it into a new, nonprofit Indiana public university for “nontraditional adult learners.”
The surprise announcement was made public in a Securities and Exchange Commission filing after Purdue’s board of trustees approved the deal.
According to the filing, about 32,000 current Kaplan students will transfer to the new, as-yet-unnamed university.
Wow. Kaplan University is clearly not a business school. Terrible negotiating on their part. The big-dicks at Purdue need to be thrown in prison for this highway robbery. This is not a typo. Kaplan literally sold his school for $1.00. Worse trade off then the trade the Bears and 49ers made last night. But buy high sell low right? Because Kaplan must’ve been high when he signed this contract.