Menu
POTENTIAL DEAL DETAILS
| Stock | Navient Corporation | Symbol | NAVI |
| Date Announced | 02/18/2019 | Source | Press release |
| Type | Company Seeking Strategic Alternatives |
Navient (NAVI) announced that it has received a highly conditional unsolicited “expression of interest” from Canyon Capital Advisors LLC and Platinum Equity Advisors, LLC to acquire the Company for $12.50 per share in cash, which represents a premium of only 6.6% over Navient’s most recent closing price on February 15, 2019 of $11.73 per share and a discount of 2.8% to the one-year volume-weighted average price of $12.86 per share.
Update(s):
February 19, 2019: Canyon Partners Issues Letter in Response to Navient Corporation’s (NAVI) Letter and Press Release that it’s prepared to engage with Navient on issues it discovered during the due diligence in the hope of ultimately arriving at a mutually satisfactory acquisition agreement.
February 20, 2019: Canyon Capital Advisors LLC (together with certain of its affiliates, “Canyon”), today announced that it has withdrawn its February 15, 2019 initial expression of interest to acquire Navient Corporation (NAVI) and stated that it does not intend to participate in any acquisition process at this time.
Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.