Updated from 11:49 a.m. EDTShares of Sallie Mae ( SLM) were among the NYSE's winners Monday, jumping 18.4% after the student loan lender agreed to be acquired by an investor group led by J.C. Flowers & Co. for about $25 billion, or $60 a share. The price represents a 28% premium to Sallie Mae's closing price of $46.76 on Friday. "We are pleased to invest in Sallie Mae and help provide increased liquidity, stability and financial strength," J.C. Flowers said. When the deal closes, J.C. Flowers and Friedman Fleischer & Lowe will invest about $4.4 billion and own 50.2% of the company. Bank of America and JPMorgan Chase, meanwhile, will each invest $2.2 billion and will each own 24.9% of the company. The acquisition is expected to close in late 2007. Shares of Sallie Mae closed up $8.59 to $55.35. Fremont General ( FMT) soared 26% after the mortgage lender agreed to sell about $2.9 billion of its subprime residential real estate loans to an unnamed buyer. The company has also entered into exclusive negotiations with the same buyer to sell most of its residential real estate business and assets. The $2.9 billion represents the bulk of Fremont's subprime residential loans held for sale that have not been sold yet. The sale is expected to result in a pretax loss of about $100 million. Shares were up $1.83 to $8.88.