Polytechnic University To Merge With NYU

Polytechnic University's board of trustees approved a merger with New York University yesterday , the schools announced.

In a statement, NYU's provost, David McLaughlin, said the university was "delighted" by the outcome of Polytechnic's vote. "The 'due diligence' process — which involves the careful review of all pertinent financial and operational information — is continuing," he said.

The chairman of NYU's board of trustees, Martin Lipton, and the school's president, John Sexton, were authorized last week by NYU's board of trustees to sign a "definitive agreement" that the Polytechnic board voted on yesterday, he said.

The merger is contingent upon approval by the New York State Board of Regents, which will review the proposal this spring.