Shareholders of SLM Corp., commonly known as Sallie Mae, on Wednesday approved a private-equity firm's $25 billion buyout of the nation's largest student lender. Shareholder approval had been expected, but uncertainty hovers over what would be one of the largest private buyouts ever. The investors that agreed to buy the student lender have said the deal could be killed by pending legislation that would halve the interest rate on government-backed student loans and impose an income-based cap on repayments.
August 16, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Shareholders of SLM Corp., commonly known as Sallie Mae, on Wednesday approved a private-equity firm’s $25 billion buyout of the nation’s largest student lender.
Shareholder approval had been expected. It came in a vote at a special meeting at the company’s headquarters in Reston, Va.
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