Sallie Mae Agrees to $25-Billion Buyout That Would Take Company Private

By GOLDIE BLUMENSTYK

Sallie Mae, the student-loan giant, announced on Monday that it had agreed to be acquired by a consortium of two private-equity firms and two banks for $25-billion.

The $60-a-share buyout deal comes from J.C. Flowers & Company, of New York, and Friedman Fleischer & Lowe, of San Francisco, which together will put...