Apollo considers buying McGraw-Hill Education

DEAL OR NO DEAL: Private equity firm Apollo Global Management LLC is considering a bid for McGraw-Hill Education, according to the Wall Street Journal. On July 11, McGraw-Hill filed detailed plans for turning its education unit into a separate company, a decision motivated by investor dismay over double-digit dips in revenue and operating income. According to the plan submitted to the SEC, shareholders will receive one share of common stock in McGraw-Hill Education for every three shares in the parent company.) Wall Street Journal sources estimate that any possible sale could be valued at anywhere between $2.8 billion and $3.8 billion, though the McGraw-Hill is expected to seek a price of $4 billion or more.

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