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Preliminary
Proxy Statement
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Confidential,
for Use of the Commission only (as permitted by Rule
14a-6(e)(2))
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Definitive
Proxy Statement
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Definitive
Additional Materials
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| x |
Soliciting
Material Pursuant to Rule
14a-12
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No
fee required.
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Fee
computed on table below per Exchange Act Rules 14a-6(i)(1) and
0-11.
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(1)
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Title
of each class of securities to which transaction
applies:
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(2)
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Aggregate
number of securities to which transaction applies:
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(3)
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Per
unit price or other underlying value of transaction computed pursuant
to
Exchange Act Rule 0-11 (set forth the amount on which the filing
fee is
calculated and state how it was determined):
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(4)
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Proposed
maximum aggregate value of transaction:
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(5)
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Total
fee paid:
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| o |
Fee
paid previously with preliminary materials.
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Check
box if any part of the fee is offset as provided by Exchange Act
Rule
0-11(a)(2) and identify the filing for which the offsetting fee
was paid
previously. Identify the previous filing by registration statement
number,
or the Form or Schedule and the date of its filing.
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(1)
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Amount
Previously Paid:
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(2)
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Form,
Schedule or Registration Statement No.:
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(3)
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Filing
Party:
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(4)
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Date
Filed:
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Project
Mustang
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| · |
This
transaction has the full support of our management and of our board
of
directors.
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| · |
This
agreement
affirms our long standing practice of keeping integrity at the forefront
of all our business dealings.
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| · |
This
transaction will not impact the 2007-2008 student loan processing
year.
There will be no change in service levels to students or schools.
Our
commitment to raising the bar on service levels to students and schools
remains.
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| · |
The
transaction will have no change on the current 2007-2007 ICP
plan
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| · |
Sallie
Mae
will continue to promote our internal brands and our lender partners.
Bank
of America and JP Morgan Chase are equity investors and are not combining
their student loan businesses with
us.
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| · |
We
expect our
sales force to continue to perform their jobs with the dedication
and
enthusiasm they have demonstrated over the years.
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| · |
Today’s
transaction has no connection to the recent settlement with the NY
AG. We
will continue to comply fully with the Code of Conduct that we signed
with
the AG’s office.
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| · |
As
employees
and shareholders, we can be equally excited by this news, as it is
a vote
of confidence for our collective talent and hard work.
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| · |
This
milestone
affirms our past performance and projects a bright
future.
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| · |
The
J.C.
Flowers & Co. and group interest in taking a publicly-traded company
to a privately held organization is recognition of the growth and
success
our company has experienced over the past 10 years.
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| · |
This
transaction will not impact our day-to-day operations - it will remain
business as usual. Our peak processing season is fast approaching,
and we
ask employees to remain focused and continue the outstanding work
that has
made Sallie Mae the No. 1 provider of student
loans.
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| · |
We
will
continue to provide world-class products and services. We will continue
to
introduce innovative technology and cost-effective financial solutions
to
our customers. Our plans for growing our business also remain the
same. We
will continue to meet or exceed our targets.
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| · |
Going
forward,
employees will benefit from the continuity of a solid business plan
and
new investments in the future of the business. We look forward to
even
greater accomplishments with the investment made by J.C. Flowers
&
Co., Bank of America and JP Morgan
Chase.
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| · |
Upon
closing
of the transaction, employees’ stock and stock options will vest and be
cashed out and distributed.
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| · |
If
you have
additional questions, please contact your manager or your local human
resource office. Additionally, you can post questions to the Forum
on
Sallie Mae Central.
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