HUNTSVILLE, Ala. — Fairfield-based Miles College, a private liberal arts and Historically Black College, has signed a letter of intent to obtain the property and assets of Birmingham-Southern College, FOX54 confirmed on Monday.
A representative from Miles College who confirmed the letter said there would be no further comment from the school or its president, Bobbie Knight, at the present time.
While the letter of intent does not mean the deal to purchase is cemented, it does throw doubt onto Huntsville-based Alabama A&M University's bid to purchase the college. The two schools are among several that reportedly tendered offers or expressed interest to buy BSC.
Birmingham-Southern's board voted in March to shutter the 192-acre campus after failing to secure loans to keep the college afloat.
The dollar figure for the purchase has not been disclosed, however Knight has told the Birmingham FOX affiliate that the property has a $55 million appraisal value.
