Strategic rival Cengage Learning was also reported to be interested in McGraw-Hill Education, in a deal which could fetch $3bn.
McGraw-Hill is looking to spin out the unit, which is the second-largest education company in the world, and could still scrap the sale if its $3bn target price is not reached, according to Reuters.
Buyout firms that have pulled out of the sale process include Thomas H Lee and Providence.
Founded in 1888, McGraw-Hill has grown to provide global financial information and education through brands including Standard & Poor’s Ratings Services, Platts energy information services and JD Power and Associates.
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