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Sallie Mae: Sallie Maes
built 283 days ago
Both Sallie Mae’s lawsuit and the buyers’ counterclaims will be dismissed, and the merger agreement has been terminated, The Times said. A trial in Delaware Chancery Court had been scheduled for December of this year. MORE »
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Sallie Mae is both a lender and a debt collector, making profits on both sides of its loans. Last year, the company earned $1.2 billion and generated a lot of cash that makes it attractive to private equity buyers. Even so, some Wall Street analysts believe that it is a poor candidate to be saddled with debt because its business relies on razor-thin interest margins and the use of derivatives to manage its exposure to interest-rate swings.
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Sallie Mae has in turn sued the buyers in Delaware Court of Chancery, asking for either the completion of the deal at the original price or a $900 million breakup fee. It is ... asking the court to expedite the trial, arguing that its prospective buyers are impeding its operations.
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On Thursday, Sallie Mae is scheduled to report its third-quarter earnings. Gokhale estimates Sallie Mae earned $273 million, or 63 cents a share. That would represent a drop from 73 cents a year earlier.
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Sallie Mae's 'Be Debt Smart' campaign offers several worksheets to help consumers create a budget to better manage their debt. 'Be Debt Smart' worksheets outline the importance of living within your means and knowing what you owe. The site ... devotes several sections to smart credit card use and the potential pitfalls of credit card mismanagement.
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*Sallie Mae reserves the right to discontinue these programs at any time without notice. Changes to the Great Rewards Program, if any, will not affect loans that previously qualified for these benefits. Sallie Mae must have an ownership interest in loans for them to be eligible for these benefits. Loans must ... be serviced throughout repayment by a participating servicer.
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