Lawcast 139: Nigel Savage, CEO, College of Law on the acquisition of BPP by Apollo
Legal Week: The parent company of top UK law school BPP has accepted a £303.5m takeover offer from a US education provider in a move that will be closely watched by the legal profession.BPP Holdings today (8 June) made an announcement on the London Stock Exchange that the all-cash offer by Apollo Global worth 620p per share a premium on Friday's closing price of 567p had been agreed by the board of BPP, subject to a shareholder vote....
This effectively means that Apollo, an American company has bought degree awarding powers in the United Kingdom as BPP is the only private company to hold such degree awarding powers. The College of Law, the largest law school in Britain also has degree awarding powers but it is a charity and is not for sale.
I received this statement from the Quality Assurance Agency the body responsible for granting degree awarding powers ..... today...
BPP College of Professional Studies has taught degree awarding powers, which cannot be transferred to another organisation. The Privy Council granted the College the powers to award taught degrees for six years with effect from 1 September 2007.
A change of ownership may not, in itself, affect the entitlement to
award degrees, provided the college continues to operate as the entity which has been granted degree awarding powers, and within the terms of the criteria relating to those powers.
I am talking to Nigel Savage, Chief Executive of The College of Law, for his thoughts on this latest development.
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