We at NYU are delighted by the outcome of todays vote by the Board of Polytechnic University. This is an auspicious day for both venerable New York institutions of higher learning.
The due diligence process - which involves the careful review of all pertinent financial and operational information - is continuing. When that is completed, the chair of NYUs Board of Trustees, Martin Lipton, and NYUs president, John Sexton, as authorized last week by NYUs Board of Trustees, will sign the definitive agreement that the Poly Board voted in favor of today.
A final key step is the review of the proposed merger by the New York State Board of Regents later this spring. We hope that the Regents view the proposed merger positively, and we respectfully ask them to consider the strong support for this merger that exists among the trustees, faculty, and students at both institutions and to consider the beneficial impact it will have not only on NYU and Poly but on our state and city, providing - as the Center for an Urban Future noted in its report a few months ago - the critical spark for strengthening the Citys reputation as a world center for science and technology.