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On second thought, that's a little much...
The group that had agreed to buy Sallie Mae for $25 billion is looking for a lower price. The New York Times reports today a couple of private equity firms, along with J-P Morgan Chase and Bank of America met this week to talk about the best way to put the pressure on Sallie Mae. It's the latest big buyout deal in jeopardy. The consortium is also thinking about scrapping its bid for the student loan giant altogether. The Times says the acquirers may be willing to pay the 900-million dollar breakup fee to walk away from the deal.
Posted on September 20, 2007 6:18 AM PT | Permalink
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