RESTON, Va., Aug. 15 /PRNewswire-FirstCall/ -- SLM Corporation (NYSE:
SLM), commonly known as Sallie Mae, announced that, at a special meeting
held today, its shareholders approved and adopted the merger agreement
providing for the acquisition of the company by an affiliate of J.C.
Flowers & Co., Bank of America and JPMorgan Chase.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a )
Under the terms of the merger agreement, Sallie Mae shareholders will
receive $60 in cash, without interest, for each outstanding share of Sallie
Mae common stock.
IMPORTANT ADDITIONAL INFORMATION REGARDING THE MERGER HAS BEEN FILED
WITH THE SEC:
In connection with the proposed merger, Sallie Mae filed its proxy
statement with the Securities and Exchange Commission (the "SEC") on July
18, 2007. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THE PROXY
STATEMENT BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT THE MERGER AND
THE PARTIES TO THE MERGER. Investors and security holders may obtain a free
copy of the proxy statement and other relevant documents filed with the SEC
from the SEC's website at http://www.sec.gov. Sallie Mae's security holders
and other interested parties may also obtain, without charge, a copy of the
proxy statement and other relevant documents by directing a request by mail
or telephone to Investor Relations, SLM Corporation, 12061 Bluemont Way,
Reston, Va. 20190, telephone 703/984-6743, or from Sallie Mae's Web site,
http://www.salliemae.com.
Sallie Mae and its directors, executive officers and other members of
its management and employees may be deemed to be participants in the
solicitation of proxies from Sallie Mae's shareholders with respect to the
Merger. Information about Sallie Mae's directors and executive officers and
their ownership of Sallie Mae's common stock is set forth in the proxy
statement as filed with the SEC on July 18, 2007.
SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, is the
nation's leading provider of saving- and paying-for-college programs. The
company manages $153 billion in education loans and serves nearly 10
million student and parent customers. Through its Upromise affiliates, the
company also manages $18 billion in 529 college-savings plans, and 8
million members have joined Upromise to help save for college with rewards
on purchases at nearly 70,000 places. Sallie Mae and its subsidiaries offer
debt management services as well as business and technical products to a
range of business clients, including higher education institutions, student
loan guarantors and state and federal agencies. More information is
available at http://www.salliemae.com. SLM Corporation and its subsidiaries
are not sponsored by or agencies of the United States of America.
SOURCE Sallie Mae
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Related links:
http://www.salliemae.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/827187.html /
CONTACT:
Investor Contact, Steve McGarry,
+1-703-984-6746, or Media Contact, Tom Joyce, +1-703-984-5610,
both of Sallie Mae
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