Fri, Apr. 15, 4:43 PM
- McGraw Hill Financial (NYSE:MHFI) is going to sell J.D. Power, the global marketing information firm known for satisfaction ratings, to Chinese buyout firm XIO Group for $1.1B and rename itself in the process.
- The two companies have a definitive deal, XIO Group says, and will close it during the third quarter.
- McGraw Hill Financial will become S&P Global on April 27.
- MHFI is flat so far in after-hours trading.
- Now read McGraw Hill Looks To Be Hitting A Near-Term Top »
Jul. 27, 2015, 7:54 AM
- The impact of the all-cash deal to MHFI will be partially offset with tax benefits of about $550M.
- Excluding amortization, the purchase is expected to be accretive to adjusted EPS in 2016, and on a GAAP basis by 2018. McGraw Hill has also identified synergies of about $70M which should be fully realized by 2019.
- Following the sale, SNL Financial CEO Mike Chinn will report to MHFI chief Douglas Peterson.
- Peterson: "Adding SNL to our portfolio creates a high-growth market data and analytics business that will leverage the power of the S&P Capital IQ and Platts global platforms to realize the full potential of SNL's financial and commodities products."
Jul. 27, 2015, 2:32 AM
- McGraw Hill (NYSE:MHFI) is nearing a deal to pay more than $2B for SNL Financial, a financial news and data services provider owned by private equity firm New Mountain Capital.
- The deal, which would boost McGraw Hill's data offerings for its main base of clients, could be announced as soon as Monday.
- Related: Pearson in talks for separate sale of Economist (Jul. 24 2015)
- Related: Pearson confirms $1.31B sale of Financial Times to Nikkei (Jul. 23 2015)
Sep. 23, 2014, 2:31 AM
- McGraw Hill Financial (NYSE:MHFI) is selling McGraw Hill Construction to P-E firm Symphony Technology for $320M.
- CEO Douglas Peterson says the deal completes the company's reorganization plans to improve efficiency, after previously stating that the unit did not fit into the global reach of the rest of the portfolio.
- The transaction is expected to close in Q4.
- Previously: McGraw Hill Financial mulls strategic alternatives for McGraw Hill Construction
Sep. 10, 2014, 5:16 AM
- Standard & Poor's (NYSE:MHFI) and Markit (NASDAQ:MRKT) have been narrowed down as the final bidders for Barclays' (NYSE:BCS) index business, which could go for more than $1B. Sources tell Reuters that a winner can be announced within weeks.
- Barclays launched the auction of its Index, Portfolio and Risk Solutions business this summer, which contains a basket of more than 98 major indexes, including the well-known U.S. Aggregate Bond Index.
- Previously: Bloomberg, Markit eyeing Barclays' fixed-income index unit
Mar. 22, 2013, 2:20 PM
Apollo Global (APO) closes the purchase of McGraw-Hill's (MHP) education business for $2.4B in cash, leaving MHP with "a high-growth, high-margin business serving the global capital and commodity markets" (and also with DOJ-target S&P). McGraw-Hill will use the proceeds to pay off debt taken on to fund last year's special dividend, resume share buybacks, and acquisitions. (PR)| Mar. 22, 2013, 2:20 PM
Nov. 26, 2012, 9:47 AM
The textbook business maybe becoming too cutthroat, as McGraw-Hill (MHP) agrees to the sale of its education unit to Apollo Global Management (APO) for $2.5B. After closing, McGraw-Hill will be renamed McGraw-Hill Financial. Shares in MHP are currently halted. (PR)| Nov. 26, 2012, 9:47 AM | 3 Comments
Nov. 6, 2012, 6:24 PM
Apollo Global (APO) and P-E firm Apax Partners are the frontrunners to acquire McGraw-Hill's (MHP) education publishing business, sources tell the WSJ. The firms are said to have done "serious financial diligence" on the business. McGraw-Hill will choose a preferred bidder (an auction ended on Thursday), after which it will have to hammer out a deal. (previous)| Nov. 6, 2012, 6:24 PM
Oct. 26, 2012, 8:11 AM
Apax Partners and Apollo Global Management (APO) are the frontrunners in the race for McGraw-Hill's (MHP) Education unit, the WSJ reports, with a deadline for bids closing yesterday. McGraw-Hill could still decide to spin off the subsidiary, which previous reports said could be worth $3B, and is due to make a decision by the year-end.| Oct. 26, 2012, 8:11 AM
Oct. 10, 2012, 4:18 PMMcGraw-Hill's (MHP) education unit is expected to draw final bids later this month from PE firms Bain Capital and Apollo Global (APO) as well as rival college textbook publisher Cengage Learning in a deal that could fetch $3B, Reuters reports. MHP wants to get more than $3B, and could still decide against a sale if the bids fail to meet its expectations. | Oct. 10, 2012, 4:18 PM
Aug. 3, 2012, 4:31 AMMcGraw-Hill (MHP) has received bids for its education unit from Bain, Thomas H. Lee Partners, Apollo Global Management (APO) and Cengage Learning, Reuters reports. The offers could value the business, the world's second-largest education company by sales, at around $3B. McGraw-Hill said last week it was evaluating a sale as an alternative to a spin-off. | Aug. 3, 2012, 4:31 AM
Jul. 13, 2012, 4:15 PM
Jun. 8, 2012, 5:35 AMMcGraw-Hill (MHP) is likely to be the only remaining suitor for Wood Mackenzie with a bid that values the oil and gas researcher at £1.1B ($1.7B), Bloomberg reports. That follows first-round offers for Wood Mackenzie, which is being sold by European PE firm Charterhouse. McGraw-Hill views Wood Mackenzie as a good fit for its own Platts ops. | Jun. 8, 2012, 5:35 AM
Apr. 3, 2012, 4:11 PM
McGraw-Hill's (MHP) S&P Capital IQ division has acquired QuantHouse, a provider of low-latency market data, order routing services, and automated trading for financial professionals. The acquisition, whose terms aren't being disclosed, follows up on S&P's recent purchase of risk analytics firm R2 Financial Technologies, and its pending acquisition of CME's Credit Market Analysis division.| Apr. 3, 2012, 4:11 PM
Dec. 30, 2011, 12:55 PM
McGraw-Hill (MHP -0.5%) says it's completed the sale of its former broadcasting group and its nine television stations to Scripps (SSP -0.6%) for $212M. The sale includes ABC-affiliated stations in Denver, Indianapolis, San Diego and Bakersfield, plus five stations affiliated with the Spanish-language Azteca America network in Colorado and southern California.| Dec. 30, 2011, 12:55 PM
Oct. 4, 2011, 7:10 AM