McGraw-Hill has filed the first extensive SEC document (formally a Form 10) providing disclosure and details about the proposed spinoff, freestanding McGraw-Hill Education company. Once the spinoff is completed, they intend to list the new shares on the NY Stock Exchange–like the current listing–and will trade as MHED. Shareholders of record of the current McGraw-Hill stock will receive one share in the new education company for every three shares they hold. McGraw-Hill Education had 2011 sales of $2.292 billion–down 5.8 percent from the prior year–with directly attributable net income of $162 million. For the first quarter of 2012, sales for […]
