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Scripps Research kills takeover by USC

The financially strapped Scripps Research Institute has decided it won't merge with or be acquired by the University of Southern California.

The Scripps board of trustees said in a statement Wednesday that a plan for a partnership with USC “has been terminated by mutual consent of both parties.”

The merger proposal met with strong opposition from faculty at the famed institute in La Jolla.

Scripps President Michael Marletta had been exploring a deal in which USC would pay the institute $15 million a year for 40 years. The newspaper says it would have amounted to a takeover by USC.

The board did not comment on Marletta's future. Ten department chairs and others sent recently an email to the board expressing no confidence in his leadership.

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Scripps Research Institute

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Scripps Research Institute Executive(s):

James Paulson, Ph.D.

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