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Bank fees at risk as Sallie Mae deal falters

UBS could lose $40m (€29m) in fees from advising Sallie Mae if the $25.5bn buyout of the US student loan provider is derailed because of pending legislation.

Private equity firms JC Flowers and Friedman Fleischer & Lowe, together with Bank of America and JP Morgan Chase, agreed to acquire the student loan provider in April.

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