I cannot recall hearing of two (or more) post-secondary schools merging together into one new entity. According to this BBC article it could become reality in the UK: Uni and college in merger talks
Colleges & Universities are not known for being efficiently run organizations, but searching for answers through faculty's research or through a student's self discovery as they develop should not be measured against an "efficient"yardstick. As such, it will not be easy to find the balance between an efficiently run college or university and a place where students and faculty have the freedom to take some risks to explore.
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