Canyon Partners Withdraws Indication of Interest in Acquiring Navient and Announces Intention to Propose an Independent Minority Slate of Navient Directors
Navient Corporation (NAVI)
Last navient corporation earnings: 4/21 04:14 pm
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Source: PR Newswire
LOS ANGELES, Feb. 20, 2019 /PRNewswire/ -- Canyon Capital Advisors LLC (together with certain of its affiliates, "Canyon"), today announced that it has withdrawn its February 15, 2019 initial expression of interest to acquire Navient Corporation ("Navient") (NASDAQ: NAVI) and stated that it does not intend to participate in any acquisition process at this time. Instead, Canyon will propose a minority slate of experienced and independent candidates for election at Navient's upcoming annual meeting to bring a fresh perspective and oversight to Navient's strategic direction, about which Canyon has significant concerns as a shareholder of over 10% of Navient's outstanding common stock. Among other concerns that Canyon has discussed with the Company, Canyon believes that rather than focusing on managing the legacy assets that Navient inherited when it was spun off from Sallie Mae, Navient has used the cash flows from those assets to subsidize the acquisition of new, non-core businesses w
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NAVI
News
- Navient Co. (NASDAQ: NAVI) had its price target lowered by analysts at JPMorgan Chase & Co. from $17.00 to $16.00. They now have a "neutral" rating on the stock.MarketBeat
- Navient Co. (NASDAQ: NAVI) had its price target lowered by analysts at Barclays PLC from $13.00 to $11.00. They now have an "underweight" rating on the stock.MarketBeat
- Boys & Girls Clubs of Delaware, Navient to host May 4 college planning conference [Yahoo! Finance]Yahoo! Finance
- Boys & Girls Clubs of Delaware, Navient to host May 4 college planning conferenceGlobeNewswire
- Navient Co. (NASDAQ: NAVI) had its price target lowered by analysts at Keefe, Bruyette & Woods from $19.00 to $17.00. They now have a "market perform" rating on the stock.MarketBeat
NAVI
Earnings
- 4/25/24 - Miss
NAVI
Sec Filings
- 4/25/24 - Form 8-K/A
- 4/24/24 - Form 10-Q
- 4/24/24 - Form 8-K
- NAVI's page on the SEC website