Ron Burgundy Posted November 26, 2012 Share Posted November 26, 2012 (Reuters) - McGraw-Hill Companies Inc said it will sell its educational publishing unit to Apollo Global Management LLC for $2.5 billion. McGraw-Hill expects to record a non-cash impairment charge of about $450 to $550 million in the fourth quarter. McGraw-Hill said it will realize $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. ... View the full article Quote Link to comment Share on other sites More sharing options...
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