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March 22, 2013
12:47 EDTAPO, MHPMcGraw-Hill completes sale of education business to Apollo Global
McGraw-Hill (MHP) completed the sale of its McGraw-Hill Education business to investment funds affiliated with Apollo Global Management (APO). As previously disclosed, the purchase price was $2.4B in cash. The company is using a portion of the approximately $1.9B in after tax proceeds from the sale to pay down short-term debt, in part driven by the special dividend paid in 2012, to resume share repurchases and to make selective tuck-in acquisitions.
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September 4, 2015
13:30 EDTAPOMcGraw-Hill Education files for initial public offering
McGraw-Hill Education has filed with the SEC for an initial public offering of its common stock. McGraw-Hill Education intends to apply to list its common stock under the symbol "MHED" but its filing does not yet make clear on which stock exchange it intends to list its stock. Private equity firm Apollo Global (APO) bought the McGraw-Hill Education business from McGraw-Hill Companies, which then became McGraw Hill Financial (MHFI), in 2013.
September 2, 2015
08:32 EDTAPOApollo pressing on with plans for McGraw Hill Education IPO, Reuters says
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August 26, 2015
07:39 EDTAPOPiper Jaffray lowers estimates for asset managers below consensus
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