JC Flowers and Co

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Private Equity Players Want In on Banking

Fed resists easing restrictions on risky, cash-rich enterprises

(Newser) - Even in the midst of the banking crisis, numerous entities are willing to buy the big banks, the New York Times reports. Private equity groups like J.C. Flowers & Company are itching to snap up the cash-strapped behemoths, but the Fed won’t let them. It’s worried that... More »

BofA Could Partner With China Fund on Lehman Bid

Bankruptcy remains possibility for firm

(Newser) - Bank of America could partner with financial investor JC Flowers and a Chinese sovereign wealth fund on a bid to rescue Lehman Brothers, the Financial Times reports. The hobbled investment bank had resisted selling itself, but is now eagerly seeking suitors before the last of its goodwill on Wall Street... More »

Sallie Mae Drops $900M Lawsuit

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

(Newser) - Beleaguered student loan provider Sallie Mae yesterday dropped its $900 million lawsuit against the onetime suitors who bailed on a $25.3 billion buyout after the credit crunch caused would-be investors to walk away, reports the Washington Post. By agreeing not to seek the penalty from investment firm JC Flowers... More »

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

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

(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... More »

Sallie Mae Sues Spooked Suitors

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

(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... More »

$25B Sallie Mae Buyout on the Rocks

Credit market implosion leaves buyer looking for the door

(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... More »

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