(Reuters) - NEW YORK, April 13 - Sallie Mae , the largest U.S. student loan company, is in talks to be bought out by private equity in a deal that could top $20 billion, according to media reports on Friday.
The company's shares surged as much as 14.9 percent, and its bonds fell after the New York Times reported that negotiations are at a late stage. Both the Times and Bloomberg News said Blackstone Group is a potential bidder.
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