Sallie Mae acquisition of Nitro College
Davis Polk is advising SLM Corporation (“Sallie Mae”) on its acquisition of Nitro College from Epic Research LLC. The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2022. Financial terms of the transaction were not disclosed.
As the leader in private student lending, SLM Corporation provides financing and know-how to support access to college and offers products and resources to help customers make new goals and experiences, beyond college, happen. Nitro helps students and families evaluate how to responsibly plan and pay for college and manage their financial responsibilities after graduation. Nitro provides a variety of free financial aid tools and resources, including a scholarship finder and FAFSA support as well calculators, research, and education to help students and families make informed decisions about college.
The Davis Polk financial institutions M&A team includes partners Louis Goldberg and Margaret E. Tahyar and associates Rachel Schlosser and Jung Eun Choi. The executive compensation team includes partner Kyoko Takahashi Lin and associate Justin Alexander Kasprisin. The intellectual property and technology transactions team includes partner Matthew J. Bacal and associate Mikaela Dealissia. Partner David H. Schnabel is providing tax advice. Partner Ronan P. Harty is providing antitrust and competition advice. All members of the Davis Polk team are based in the New York office.