A proposal had called for St. Augustine’s to assume operations at Saint Paul’s while it explored the feasibility of acquiring the Saint Paul’s campus as a branch of St. Augustine’s.
Last November, St. Augustine’s University in Raleigh, N.C. announced that it was stepping up to support struggling St. Paul’s and proposed acquiring the college, which has been mired in debt and working to regain its accreditation. But “after careful due diligence and much deliberation, Saint Augustine’s University has decided that to pursue the acquisition is not a fiscally responsible option,” said St. Augustine’s President Diane Boardley Suber.
The proposal had called for St. Augustine’s to assume operations at Saint Paul’s while it explored the feasibility of acquiring the Saint Paul’s campus as a branch of St. Augustine’s. Both institutions are affiliated with the Episcopal Church.
Apparently, this week, the news blindsided St. Paul’s officials.
“The Board of Trustees and Administration of Saint Paul’s College were surprised after receiving the correspondence from Saint Augustine’s University on last week,” wrote acting President Oliver W. Spencer Jr., Ph.D., in a May 13 statement.
“We had anticipated that, as a result of all our discussions and planning, we would be moving forward with the possible merger/acquisition process,” added Spencer. But even with an uncertain future and without a deal in hand, St. Paul’s went forward with its May 11 commencement for fewer than 100 graduates and its annual celebration of Alumni Day earlier in the week.
There is no sign yet that St. Paul’s has given up the fight even with a May 31 deadline looming. On its homepage, the college pleads for help in raising $608,500 by that date. In the same space on the website, the college also lets visitors know that it is still on a mission: “The Time is Now: Together We Can Open the Doors to the Future.”
