Wednesday, December 12, 2007
SLM Corp. (Sallie Mae), which is suing private equity firm J.C. Flowers for backing out of a deal to buy SLM, said that the firm turned down its invitation to renegotiate the terms. The $25.3 billion LBO was one of the biggest to blow up in the face of the credit markets collapse. WSJ, Flowers Won't Make New SLM Bid.