US education groups McGraw-Hill, Cengage plan all-stock merger

The merged company will be named McGraw Hill and will hold about US$3.16 billion in annual revenue, both companies had earlier told the Wall Street Journal, which first reported the deal.If the deal stands through, the new company would become the second-largest provider of college textbooks and other higher-education materials in the United States, the report said.

Cengage Learning Chief Executive Officer Michael Hansen will head the new firm, McGraw-Hill confirmed. The merged entity, which could be valued at about US$5 billion, would help both U.S.-based educational publishers to compete better as the rise of digital books and course materials pressures their businesses.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US: Wall Street edges lower, energy stocks fall[NEW YORK] The S&P 500 slipped on Wednesday after ending the previous session with a record and the Nasdaq failed to hold all-time highs reached earlier in the day while investors waited for more earnings reports. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

US: Stocks edge to records ahead of Federal Reserve meeting, big earnings[NEW YORK] Major US stock indices edged to records for a second straight session on Monday in a quiet opening to a heavy news week with major earnings, a Federal Reserve meeting and US-China trade talks. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

European stock markets mostly down amid mixed US earnings resultsLONDON: European stock markets mostly sunk on Thursday (Apr 25) as investors digested one of the busiest days of the US corporate earnings season, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »