Announced
Financials
Tags
Private
Merger
Friendly
textbook publishing
United States
Education Services
Single Bidder
Majority
Private Equity
Failed
Synopsis
Cengage, an educational content, technology, and services company, and McGraw-Hill, a learning science company, terminated their $2.6bn merger of equals. "Because the required divestitures would have made the merger uneconomical, McGraw-Hill and Cengage have decided to terminate the merger agreement. This will allow each of us to focus on our respective stand-alone strategies for the benefit of our owners, employees, customers and other stakeholders. I want to express my deep appreciation for the efforts and incredible commitment demonstrated by McGraw-Hill's employees over the past year and particularly in recent weeks as they have worked tirelessly to help educators make the transition to online learning," Simon Allen, McGraw-Hill CEO.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.