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Apollo enters exclusive talks to buy McGraw-Hill Education

7 Nov 2012

Apollo Global Management is understood to have beaten off competition from private equity rival Bain Capital by entering into exclusive talks to buy the education unit of McGraw-Hill Companies.

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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