Univ of Florida buys In-State Scripps Assets for $100

[bjcheung77]

Yes, $100, you read that right, for the Scripps Research Institute, it includes 3 science buildings and 70 acres!  Wow, I wonder what "catch" there is to get that for $100.  Link: University of Florida Buys In-State Scripps Assets for $100 (insidehighered.com)

[Johann]

Yes, $100, you read that right, for the Scripps Research Institute, it includes 3 science buildings and 70 acres!  Wow, I wonder what "catch" there is to get that for $100.  Link: University of Florida Buys In-State Scripps Assets for $100 (insidehighered.com)

The "catch" - if it can be called that - is it's not a straight buyout. It's an "asset transfer" as part of a merger. U. of Florida will continue good work in health research and be able to use the Scripps name. Also for that $100, the University picks up $112 million in cash on hand. The "catch" is you have to be a name institution with the resources, people and smarts to make synergy out of the deal and be able to make the combination continue to be strong and produce great results. I understand from a couple of reports there are over 500 people employed in this enterprise. This looks like a combined effort - a strategy, not a fire-sale of a distressed company. 

I wish them well. Quality health research is the goal - and that's the noblest of aims.

[NoStudentNoCry]

well, it's not like some rando can stop by and say "hey imma pay 101 buck" and they are like "Goodness! Sure your bid is so much better! Sold! It's all yours now!"
It's a merger, a lot of stuff is going on. That $100 "sale" is just a nominal amount thrown there for legal purposes.

[Johann]

... That $100 "sale" is just a nominal amount thrown there for legal purposes.

Exactly!