FierceFinance is the financial services daily monitor, with news covering the banking industry, asset management, capital markets and SEC regulations. Join
45,000+ bankers and fund managers who get FierceFinance via email for a quick daily briefing from an insider perspective. Sign up today!
Few would have guessed this: Bank of America, JC Flowers & Co. and China Investment Company (the Chinese sovereign wealth fund) are considering a possible joint bid for Lehman Brothers, reports... Read more...
Two dollars a share. Hard to believe. But that shows you the extent to which Bear Stearns really was on the brink. It was a frenetic weekend of activity. CNBC reported early that JC Flowers and Read more...
The biggest deal casualty of the credit crisis has been Sallie Mae. It looks like now that the next step in the ugly confrontation is a trial in Delaware. The latest is that the once-commited... Read more...
Rock Private equity firm JC Flowers may step up as a competitor to Richard Branson and enter the auction for Northern Rock. Not sure what the firm sees, but it's really a valuation game. Read more...
I guess this is a sign that the dance is over. There has been hope that J.C. Flowers and Bank of America and JP Morgan would find a way to compromise with Sallie Mae over the terms of the $25... Read more...
Sallie Mae announced a third-quarter loss of $344 million that seems to confirm what the banks and J.C. Flowers said about the effect of new legislation. But Sallie Mae chairman Albert Lord seems to... Read more...
So the deal isn't dead yet. Despite a lot of posturing and cut-short meetings, a group led by J. C. Flowers has made a new offer for Sallie Mae--$50 a share in cash. The previous offer was $60 a... Read more...
Well, the Sallie Mae deal may end up being the first huge victim of the crisis. The New York Times says J. C. Flowers & Company and Friedman Fleischer & Lowe have informed Sallie Mae that... Read more...