“Activist” hedge fund Jana Partners has built a modest stake in McGraw-Hill stock over the past two months and is working alongside the Ontario Teachers’ Pension Plan to push the company to consider breaking apart its disparate units, disclosed in an SEC filing yesterday. But their declared position is just 5.2 percent–just enough to generate press and tempt other investors to join their cause. Their filing alone accomplished at least part of that mission–shares opened up over 4 percent in morning trading. In their registration, Jana said it “has had discussions with management relating to, among other things, the business, […]
