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Sallie Mae Knows Her Merger Is Toast (SLM, JPM, BAC) |
| Published: September 26, 2007, 3:59 pm |
| Tags: mergers buy outs, private equity |
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SLM Corp. (NYSE:SLM), or Sallie Mae, has announced that it has been informed by a representative of the buyer group led by J. C. Flowers, Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM) that the buyer group does not expect to consummate the acquisition of Sallie Mae under the terms of the merger agreement. Sallie Mae firmly believes that the buyer group has no contractual basis to repudiate its obligations under the merger agreement and intends to pursue all remedies available to it to the fullest extent permitted by law. Sallie Mae says it believes legislation being enacted would reduce... [ Full article ] |
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