NATION

NATION

Agreement reached
in student-loan scandal

HARTFORD, Conn. — Three Connecticut schools have agreed to donate tens of thousands of dollars to scholarship funds to settle allegations that they received benefits in exchange for giving preferred lender status to a student loan company.

In an agreement announced Monday by state Attorney General Richard Blumenthal, Fairfield University, Sacred Heart University and Trinity College denied allegations that they violated laws governing financial aid.

Blumenthal also announced that the Connecticut Conference of Independent Colleges, a group of 17 schools in Connecticut, agreed to a financial aid code of conduct that prohibits schools and financial aid staff from accepting compensation from lending institutions.

Acer Inc. plans to buy
Gateway for $710 million

TAIPEI, Taiwan — Acer Inc., the world’s fourth-largest computer vendor by unit sales, plans to acquire U.S. computer maker Gateway Inc. for $710 million, the Taiwanese company said Monday.

Acer is offering to buy Gateway for $1.90 per share in a deal expected to complete by December, pending regulatory approvals in Taiwan and the U.S., Acer said in a statement.

The acquisition has been unanimously approved by the boards of directors of both Gateway and Acer and is subject to standard closing conditions, it said.

Associated Press