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Student Loan Corp. (STU) confirms earlier reports that it will be sold in a series of...

Student Loan Corp. (STU) confirms earlier reports that it will be sold in a series of transactions: Discover Financial Services (DFS) will acquire STU, and Sallie Mae (SLM) will acquire from STU $28B of securitized federal student loans and related assets and Citigroup (C) will acquire $8.7B in loans and other assets from STU. Upon the closing of the transactions, STU shareholders will receive $30/share.
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Comments (2)
  • Nikhil Nichani
    , contributor
    Comments (144) | Send Message
     
    There was no way this company wouldn't have been bought out. Bought at $24 a share start of August. Held on through its decline to $17, happy to be out at $30
    17 Sep 2010, 09:35 AM Reply Like
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    Something stinks real bad with this whole "shuffle" of student loans. I smell an intervention in order to kick the can.

     

    Mark my words, you'll see a bunch of logical theory and reasoning come out on this one, as well as "write-offs" with the full backing of the govt approved "mark to make believe".
    17 Sep 2010, 09:46 AM Reply Like
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