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The University of Minnesota has decided to cancel a lecture to be given by Michael Bloomberg, reported The Star Tribune.

Bloomberg's speech was scheduled in October, but the university said that due to rumors of his presidential run they could no longer host it, citing federal law and university rules that prohibit public entities from actions that may support presidential candidates.

The former mayor of New York City was supposed to give the Humphrey School of Public Affairs' Distinguished Carlson Lecture in December, before the university pulled the event last week.