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Navient rejects bid $ 3.2 billion at Canyon Capital and Platinum Equity



Student-loan service Navient Corp has rejected a $ 3.2 billion takeover bid from two investors, a source familiar with the matter customs Reuters

Navient's board on Monday to reject the $ 12.50 per share offer from hedge fund Canyon Capital Advisors and private-equity firm Platinum Equity Advisors, believed to be the company, according to the source

The offer represents a 6.6 percent premium over Navient's Friday closing price of $ 11.73 a share.

Navient's advisers had customs Canyon it would require a price of more than $ 15, the Wall Street Journal reported on Monday, citing people familiar with the matter.


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