Peterborough Regional College is considering merging with New College Stamford.
The Peterborough college said its board of governors will meet this week to “consider next steps”.
A spokesperson said the college is “exploring a merger with New College Stamford versus a stand-alone option”.
The college has not yet outlined what changes may result if the merger goes ahead.
New College is approximately 18 miles away in Stamford.
Peterborough Regional College was rated as “requires improvement” in its most recently published Ofsted inspection report, released on June 27.
The acting principal, Rachel Nicholls, joined the college last November from New College Stamford, where she was deputy principal.
She said earlier this month the regional college was “exploring a range of collaborative options” while denying a speculated merger with Cambridge Regional College.
When Ms Nicholls made the move last year, the principal of New College Stamford, Janet Meenaghan, said: “We have a longstanding working relationship with Peterborough Regional College, where we often share insights and collaborate for mutual benefit.
“Rachel has played a key role in driving improvements at New College Stamford,and she is keen to use her skills to benefit students in Peterborough. We are pleased to support this arrangement and will continue to seek other ways our organisations can work together.”
A spokesperson for Peterborough Regional College said: “At Peterborough Regional College we are constantly striving to ensure the best possible outcomes for our learners. We can confirm that we have, like many other FE Colleges across the country, been exploring a range of collaborative options over the last few months, including a merger with other local and regional providers.
“We have undertaken a Structure and Prospects Appraisal (SPA) which included a number of providers.
“As a result of the SPA process we are exploring a merger with New College Stamford versus a stand-alone option. The sole purpose is to accelerate improvement and ensure the best future for the college and our learners.
“The Board of Governors are meeting this week to consider the next steps and a statement will be released once a decision has been made.”
Ben Hatton, Local Democracy Reporting Service