(Reuters) - Sallie Mae said on Wednesday a group of private equity firms and banks threatened to scuttle their buyout of the company, blaming proposed legislation to cut government subsidies to student lenders.
The deal has a break-up fee of $900 million, but if the buyers could prove the legislation has a "material adverse impact" on the transaction, they would not have to pay the fee.
Read more at Reuters.com Bonds News
The deal has a break-up fee of $900 million, but if the buyers could prove the legislation has a "material adverse impact" on the transaction, they would not have to pay the fee.
Read more at Reuters.com Bonds News
No comments:
Post a Comment