Sallie Mae Corp., the nation's largest student loan provider, agreed to a $25 billion buyout that will put split the company into the hands of Bank of America, JPMorgan Chase and two private equity firms.

            Solidified over the weekend, the agreement calls for New York City-based J.C. Flowers & Co. and San Francisco-based Freidman Fleischer & Lowe, LLC to own 50.2 percent of the company, for $4.4 billion. Bank of America and JPMorgan Chase will each invest $2.2 billion in Sallie Mae, to own a combined 24.9 stake in the company, according to Sallie Mae's Website.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.