Thursday, 24 November 2011

The College of Law again

Education Investor reports that there are 8 potential bidders now interested in the College of Law (although not naming Duke Street as one of them).

It is interesting that the numbers suggested, ranging from £175-£250 million are all well short of the £300 million which Apollo paid for BPP back in 2009. By 2009 the whole global collapse thing was already well established so it isn't as if that bid was made during a period of irrational exuberance akin to the dot com boom. The College of Law is at least as good a business as BPP. These numbers suggest that the reality of what Government is actually doing to liberalise HE and let in private sector players is much less appealing to the private sector in 2011, than the thought of what Government might do was in 2009. So whilst the speculations in my Duke Street post haven't held up all that well, the point I made here that the private sector doesn't really seem to be up for this revolution still seems to me to stand.

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