Deal announced: 04/16/2007
Deal withdrawn: 12/13/2007
Investors: JC Flowers, Friedman Fleischer & Lowe, Bank of America
Value of the deal: $25.5 billion
Last July the company known as Sallie Mae warned that JC Flowers might not close the deal because rules governing federal loan support could change, but rumors flew that Flowers chief
executive J. Christopher Flowers wanted out because of the crumbling credit markets.
Either way, the two things that the financial services company needed to thrive -- favorable legislation and sanguine credit markets - were gone. Sallie Mae sued to keep the
consortium in the deal. This January the suit was dropped.NEXT: United Rentals (industrial, contractor equipment rental)