Entries tagged "Sallie Mae"
Kicking off the week of May 12, the $1.3 billion take-private of Cumulus Media Inc. bit the dust after its would-be buyers (chairman, president and CEO Lew Dickey and Merrill Lynch & Co.'s private equity arm) and the Atlanta-based radio broadcaster could not renegotiate terms. Cumulus may be the latest, but SLM Corp. kicked off a wave of terminations blamed on everything from the credit markets to material adverse changes in a company's business to an inability to renegotiate on favorable terms. So many stalled deals, in fact, have left PE firms excluded from some auctions, sending targets into the...
