Private equity firm Apollo Global Management LLC is considering a bid for textbook publisher McGraw-Hill Education, which is being spun off by McGraw-Hill Cos Inc , the Wall Street Journal reported, citing ...
(Reuters) - Private equity firm Apollo Global Management LLC is considering a bid for textbook publisher McGraw-Hill Education, which is being spun off by McGraw-Hill Cos Inc , the Wall Street Journal reported, citing people familiar with the matter.
NEW YORK (Reuters) - McGraw-Hill Companies Inc's education unit is expected to draw final bids from private equity firms Bain Capital and Apollo Global Management as well as rival Cengage Learning Inc, in a deal that could fetch around $3 billion, several people familiar with the matter said. Cengage, the No. 2 U.S. college textbook publisher, and the two private equity firms are working on final offers for McGraw-Hill Education, the world's second-largest education company by sales, with the bids due later in October, the people said. ...
Apollo Global Management LLC, a firm formed after the collapse of Drexel Burnham Lambert more than two decades back and which has grown into one of the world’s largest alternative investment managers, is set to open a Canadian office.
McGraw-Hill Companies Inc said it will sell its educational publishing unit to Apollo Global Management LLC for US$2.5-billion.
McGraw-Hill expects to record a non-cash impairment charge of about US$450 to US$550-million in the fourth quarter.
McGraw-Hill said it will realize US$1.9-billion of proceeds from the deal, after taxes and certain adjustments, and will use the money to buy back its shares, make “selective tuck-in acquisitions” for its portfolio of financial services businesses and repay short-term borrowings.
The McGraw-Hill Companies Inc. (MHP), a publisher and provider of financial information and media services, reported first-quarter results before the opening bell today. The company recorded a robust 63.9% growth in net income to $103.3 million or 33 cents per share from $63.0 million, or 20 cents per share, in the year-ago period.