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TEMPE, Ariz. -- After weeks of rumors, it's official: The Thunderbird School of Global Management has signed a letter of intent to join Arizona State University.

The two schools released a statement Thursday that said both sides are working on a possible integration.

A deal would provide broad educational cooperation, make Thunderbird staff part of ASU and put the Glendale-based school under the jurisdiction of the Arizona Board of Regents.

ASU and Thunderbird officials say they're working diligently toward a final agreement by the end of this month.

Financial details of the deal haven't been disclosed.

The statement says staff reductions are possible, but officials say the nature and the scale of the reductions still are being studied.

Associated Press,

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