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October 7, 2008 6:30:36 PM CDT

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Stories related to: JC Flowers and Co

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5 Stories

  • September 2008
  • January 2008
  • October 2007

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

      MarketWatch  |  Oct 16, 07 4:13 AM CDT

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

      (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 will reduce the student loan corporation's profits, which investors see as "material adverse circumstances" and grounds to get out of the deal without penalty. More »

      Tags

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

    • Sallie Mae Sues Spooked Suitors

      New York Times  |  Oct 9, 07 5:45 AM CDT

      Sallie Mae Sues Spooked Suitors

      (Newser) - College student lender Sallie Mae is suing a group of private equity firms and banks that are backing out of a $25-billion buyout deal. The group—J.C. Flowers & Company, Friedman Fleischer & Lowe, JP Morgan Chase and Bank of America—had set a deadline of today for negotiating new terms, or they'll walk away from the deal, despite a $900-million breakup fee, reports the New York Times . More »

      Tags

      private equity  • JPMorgan Chase  • Bank of America  • buyout  • Sallie Mae  • JC Flowers and Co  • Friedman Fleischer and Lowe

  • September 2007

    • $25B Sallie Mae Buyout on the Rocks

      Wall Street Journal  |  Sep 27, 07 9:52 AM CDT

      $25B Sallie Mae Buyout on the Rocks

      (Newser) - Sallie Mae doesn’t look like such a bargain at $25 billion anymore, and J.C. Flowers & Co. is trying to renegotiate—or escape—its deal to acquire the student lender, citing the credit market implosion and legislation to reform student loan practices. It’s the kind of deal once considered unbreakable, the Wall Street Journal says, but private equity is in disarray. More »

      Tags

      credit market  • private equity  • student loans  • private equity firms  • Sallie Mae  • JC Flowers and Co

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