By Ann Heffron, CFA, CPA

NYSE:FMD

The First Marblehead Corporation (FMD) was acquired yesterday at the agreed-upon share price of $5.05 by FP Resources USA Inc. following approval by the Company's stockholders at a special meeting of stockholders held on August 22, 2016. First Marblehead's common stock has been delisted from the New York Stock Exchange

Founded in 1991, The First Marblehead Corporation, headquartered in Boston, Massachusetts, focused on creating private, nongovernment-sponsored, education loan programs. The company had its initial public offering on the NYSE in October 2003. First Marblehead currently has more than 260 employees. Through a fully integrated suite of services, the company offers outsourcing capabilities to national and regional financial institutions (banks-to-mutual institutions) and educational institutions (colleges and universities), with respect to the design and implementation of private education loan programs for undergraduates and graduates.

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