Open Question
Why are companies like Sallie Mae trading about 20% below the buyout price? Is
it the streets feeling that the deal will not go through? Is buying now to make
20% by November to risky?
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I'd stay away from this. Pending legislation would allow the potential buyers
to get out of the deal. The legislation would cut subsidies for student loans,
among other things that would adversely affect SLM.
If you are looking for a better arbitrage situation, you can look into TRB, or
some others.
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