- Associated Press - Wednesday, January 29, 2020

BENNINGTON, Vt. (AP) - A boarding school in Vermont pulled out of its bid to acquire the former Southern Vermont College campus.

Trustees of the Oliverian School in New Hampshire voted to exercise a right under the purchase and sale agreement to withdraw from the purchase, the Bennington Banner reported Tuesday.

“During this process, we came to love both this stunning campus and the Bennington community,” Will Laughlin, Oliverian’s head of school, said Tuesday in a news release. “But after a rigorous examination, we have determined that the economics of this wonderful campus do not work for Oliverian School at this time.”

The school pulled out of the Bennington campus purchase within a 90-day due diligence period. The bid was announced in late October as an agreement to purchase the 371-acre main campus and buildings for $4.9 million.

Laughlin said the school will remain in Pike, New Hampshire, for the foreseeable future and use their resources to improve that campus while keeping an eye out for future opportunities.

The school had initially hoped to open the new campus for the fall 2020 semester and close the New Hampshire campus. Being in Bennington would have allowed the school to expand slightly to around 55 students, and to offer programs for some middle school students and for post-graduate students who require financial assistance during their first year.

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