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Ex-Sallie Mae Suitor Tries to Dodge Breakup Fee in Court

Investor group doesn't want to cough up $900M

By Colleen Barry, Newser Staff

Posted Oct 16, 2007 4:13 AM CDT

(Newser) – The group that offered to buy out educational lender Sallie Mae for $25 billion is now seeking court approval to back out and avoid paying a $900 million break-up fee. The investor group, including Bank of America and JPMorgan Chase, is arguing that recent legislation... Read full story »

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Ex-Sallie Mae Suitor Tries to Dodge Breakup Fee in Court

Investor group doesn't want to cough up $900M

Sallie Mae • student loans • mergers and acquisitions • buyout • JC Flowers and Co • George W. Bush

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More Newser Stories

Sallie Mae Drops $900M Lawsuit

Move helps struggling student loan provider obtain $31B in financing

Sallie Mae Sues Spooked Suitors

Student-loan giant refuses to renegotiate $25B buyout deal

$25B Sallie Mae Buyout on the Rocks

Credit market implosion leaves buyer looking for the door

White House Slams Student Loan Lobby

Sallie Mae spends $4M to kill bill sending more money to students

Oil Prices Rise; Dow Up 91

Low-volume session sees modest advances in energy, financials

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