Back in April, we told you that Sallie Mae was going to be sold to JP Morgan Chase and Bank of America for around $25 billion. Now JP Morgan Chase and Bank of America want to bargain, and Sallie Mae is now suing its potential buyers in an attempt to force them to honor the original deal.
Sallie Mae’s potential buyers gave the nation’s largest student lender until Tuesday to consider their reduced buyout offer in light of what they said was “the new economic and legislative environment that faces the company.”
