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Sallie Mae shares jump on Blackstone linkUS-listed loans business Sallie Mae saw its shares jump today following reports that it may be a $20 billion bid target for The Blackstone Group. However, its portfolio structure and ongoing legal issues may yet scupper any bid.
- US union continues buyout campaign
America’s largest labour union has sent out email blasts and established blogs pertaining to private equity deals it finds troubling – the action follows last week’s issuance of a buyout report and launch of an associated website.
- Sallie Mae agrees $25 billion buyout
US student loan provider Sallie Mae has accepted a $25 billion buyout offer from a private equity consortium led by JC Flowers, contradicting an earlier claim that The Blackstone Group was likely to buy the company.