AUSTIN (June 26, 2012)--Texas A&M University is buying the law school at private Texas Wesleyan University in Fort Worth for $20 million, school officials said Tuesday.
Texas A&M has long sought to establish a law school and Chancellor John Sharp said having one will boost Texas A&M's prestige while also providing the first public law school in the Dallas-Fort Worth area.
“In creating the Texas A&M University School of Law at Texas Wesleyan, we are finally expanding the Texas A&M brand into the field of law with a focus on emerging fields that require a growing legal expertise,” Sharp said.
The University of North Texas is scheduled to open its new law school in Dallas in 2014.
Texas Wesleyan agreed Monday night to sell the school to Texas A&M, which will also sign a 40-year lease for the law school building.
“Last October, Texas A&M System Chancellor John Sharp approached me about a unique strategic partnership,” Texas Wesleyan President Frederick G. Slabach said.
“After months of careful consideration, we both consider this to be a mutually beneficial collaboration with limitless possibilities.”
The renamed Texas A&M Law School at Texas Wesleyan University will specialize in business and intellectual property law.
Texas A&M System regents are expected to approve the deal later this week.
The agreement will be executed on or before June 1, 2013, Texas A&M said Tuesday.