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TO: The MCPHU/Drexel Communities FROM: Tobey Oxholm, Chair, Merger Transition Team DATE: April 1, 2002 RE: Status of Drexel Board Vote on the Merger As all of you know, Drexel University has the right to merge with MCP Hahnemann University if it exercises its option at least 90 days before the end of the term of the Operating Agreement. That deadline was originally set for today, Monday, April 1, 2002. Although much progress has been made, the negotiations are not yet concluded and for this reason, the PHEC Board of Trustees has granted Drexel a thirty-day extension of time to exercise its option. The new deadline is May 1. It is anticipated that the Drexel Board of Trustees will meet during the week of April 22nd. |
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| Modified: Monday April 01 2002 |