Sallie Mae to be bought for $25 billion.

April 16, 2007

Sallie Mae, the student loan provider, has agreed to be acquired by J.P. Morgan Chase & Co., Bank of America, and two private investment funds for $25 billion, The Wall Street Journal reported this morning.


Reston, Va.-based Sallie Mae, officially known as SLM Corp., employs 2,300 workers in Fishers and another 500 in Muncie.


The company's stock shot up nearly 15 percent, to $46.76 a share, Friday after The New York Times reported the New York buyout firm Blackstone Group might offer $20 billion for the company.



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