Private equity investor Apollo Global Management is considering making a bid for McGraw-Hill Education, according to the Wall Street Journal (WSJ), citing people familiar with the matter.
The people said a sale of the textbook publisher could raise between USD 2.80 billion and USD 3.80 billion, but added that the vendor, McGraw-Hill Companies, could target USD 4.00 billion or above.
None of the firms involved have commented on the report.
McGraw-Hill Education provides educational materials, information and solutions for the pre-kindergarten through 12th grade, assessment, higher education and professional markets, and is a global leader in the field, according to its website.
It was founded in 1909 by James McGraw, as a result of the combination of The McGraw Publishing Company and The Hill Publishing Company.
The business is headquartered in New York.
Apollo Global Management claims to be one of the largest alternative investment managers worldwide, with total assets under management of USD 86.00 billion as of March this year.
It employs 553 people across ten offices worldwide and is based in New York.
The company, which is also active in the real estate and credit-oriented capital markets sectors, is listed on the New York Stock Exchange and was founded in 1990.
Apollo is led by chief executive Leon Black and recorded net income of USD 431.14 million in the first quarter of this fiscal year, up 71.7 per cent on the same period in 2010.
McGraw-Hill Companies provides financial information and education services and was founded in 1988.
The firm’s other brands include Standard & Poor's Ratings Services, Platts energy information services and JD Power and Associates.
It has over 280 offices throughout 40 countries and employs about 23,000 people worldwide.
© Zephus Ltd
|