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$25 Bil Buyout Of Sallie Mae In Jeopardy

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The planned $25 billion buyout of student lender Sallie Mae was thrown into jeopardy Wednesday after the investors said terms of the deal were no longer acceptable.

Sallie Mae, officially SLM Corp., vowed to pursue legal remedies against the investor group led by private-equity firm J.C. Flowers & Co.

The group told Sallie Mae it does not plan to complete the $60-a-share deal negotiated earlier this year, though it is open to discussing new terms.