Sallie Mae 13D filer ValueAct reports 6.4% stake
09 APR 2018
Sallie Mae (Nasdaq: SLM) investor ValueAct Capital (VA) has filed a 13D reporting a stake of 6.4%.
In the Friday 13D filing VA did not disclose any immediate plans or proposals but stated it has had talks, and expects to have further talks on a wide range of topics including board composition, capital allocation, and M&A strategy.
Sallie Mae, formally SLM Corporation, has a market cap of USD 4.929bn.
Excerpt of 13D filing:
The Reporting Persons have had and anticipate having further discussions with officers and directors of the Issuer in connection with the Reporting Persons' investment in the Issuer.
The topics of these conversations will cover a range of issues, including those relating to the business of the Issuer, management, board composition (which may include whether it makes sense for a ValueAct Capital employee to be on the Issuer's board of directors), investor communications, operations, capital allocation, dividend policy, financial condition, mergers and acquisitions strategy, overall business strategy, executive compensation, and corporate governance.
The Reporting Persons may also have similar conversations with other stockholders or other interested parties, such as industry analysts, existing or potential strategic partners or competitors, investment professionals, and other investors.
Link to original source (13D filing)