Return of the mac: flowers tries to renegotiate Sallie mae price
Following last week’s story on the controversial material adverse change (Mac) clause, a deal far larger than Harman’s $8bn (£3.93bn) sale to Kohlberg Kravis Roberts appears to have cratered. The $25bn (£12.27bn) buyout of student lending business SLM, known as Sallie Mae, by private equity group JC Flowers looks off after Flowers cited not one […]