Shareholders approve sale of Student Loan

Stamford-based Student Loan Corp. said stockholders approved the sale of the company to a subsidiary of Discover Bank, the agreement of which also will result in the sale of some Student Loan assets to SLM Corp., better known as Sallie Mae. SLC common stockholders will receive $30 per share. According to the final tally of shares voted, more than 95 percent of the outstanding shares of eligible common stock of SLC voted to approve the transactions. The parties expect that the merger will be completed by year-end.