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Jitterbug

11 July 2007 By Antony Currie

It took some creative structuring for his private equity firm to be able to bid for the student lender. Now Flowers might be pulling out. Legislation, not funding, seems to be the issue. Still, one wonders if his stance might embolden other LBO shops to walk from sticky deals. First, a handful of LBO deals hit funding speed bumps. Now GE is pulling its $8bn bid for Abbot, and Sallie Mae s $25bn LBO is under threat. This might just be a coincidence. But one wonders whether these are just the first examples of buyers walking away from sticky deals.

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