{"id":5933,"date":"2007-04-16T00:00:00","date_gmt":"2007-04-16T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"sallie-mae-agrees-to-billion-buy-out","status":"publish","type":"post","link":"https:\/\/staging.hedgeco.net\/news\/04\/2007\/sallie-mae-agrees-to-billion-buy-out.html","title":{"rendered":"Sallie Mae Agrees to $25 Billion Buy Out"},"content":{"rendered":"
HedgeCo.net – A group consisting of hedge funds JC Flowers & Co. and Friedman Fleischer & Lowe, agreed late last night to buy SLM Corp also known as or Sallie Mae, the US’s largest provider of student loans, in a $25 billion deal. Also in on the deal is J.P. Morgan Chase & Co. and the Bank of America.<\/p>\n

The idea driving the deal revolves around using financial engineering and more-efficient management to improve Sallie Mae’s balance sheet. The two New York-based hedge fund firms will control 50.2% of the company, while the banks will own the rest.<\/p>\n

Under the terms of the deal, they said, the buyers will pay $60 a share in cash, which represents almost a 50% premium over Sallie Mae\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s battered share price before news of a potential buyout was reported in The New York Times last week. The share price has surged nearly 15% on the prospect that the company could be bought out.<\/p>\n

JC Flowers & Co is one of the largest investment funds focused solely on the financial service sector. The fund has over $900 million in commitments from financial and strategic investors. Investors in the hedge fund include ABN Amro, AIG, Banco Santander, GE, Goldman Sachs, JP Morgan Chase among others.<\/p>\n

Friedman Fleischer & Lowe focuses on investing in middle-market companies and currently has over $1 billion in assets under management.<\/p><\/div>\n

 <\/div>\n
 <\/div>\n

Alex Akesson
Contributing Writer
HedgeCo.Net
Email: Editor@hedgeco.net<\/a><\/p>\n

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HedgeCo.net – A group consisting of hedge funds JC Flowers & Co. and Friedman Fleischer & Lowe, agreed late last night to buy SLM Corp also known as or Sallie Mae, the US’s largest provider of student loans, in a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5933","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5933"}],"version-history":[{"count":0,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5933\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}