McGraw-Hill announces comprehensive growth and value plan to increase shareholder value
To separate into two industry leading public companies, one focused on key global markets and the other on education
Excerpt of announcement:
NEW YORK, September 12, 2011 — The McGraw-Hill Companies (NYSE: MHP) today announced that its Board of Directors has unanimously approved a comprehensive Growth and Value Plan that includes separation into two strong public companies: McGraw-Hill Markets, primarily focused on capital and commodities markets, and McGraw-Hill Education, focused on education services and digital learning.
The three-part plan is designed to accelerate growth and increase shareholder value by:
- Creating two “pure-play” companies with the scale, and the capital and cost structures to fully leverage their world-class franchises, iconic brands, and leading market positions
- Reducing costs significantly to ensure efficient operating structures for the two new companies
- Accelerating the pace of share repurchases to a total of $1 billion for the full year 2011 (approximately $540 million repurchased year to date)
Also see:
- To lift stock, McGraw-Hill will split in two
- McGraw-Hill announces breakup plan
Firm outlines plan to split markets, education business. - McGraw-Hill splitting into two