(Bloomberg) -- Shares of SLM Corp., the U.S. student-loan provider known as Sallie Mae, may advance after the Wall Street Journal said the company accepted a $25 billion takeover bid from two private-equity funds, along with Bank of America Corp. and JPMorgan Chase & Co.
The two funds, JC Flowers & Co. and Friedman Fleischer & Lowe LLC, and the banks are offering $60 a share, almost 50 percent more than Sallie Mae's share price on April 12, before reports on a possible transaction boosted the stock, the Journal said, citing unidentified people familiar with the matter.
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