McGraw-Hill’s exploration of a sale of their education publishing division is down to one final bidder, Apollo Global Management, which has been tipped as interested since the sale process began earlier this year. But press account continue to give an exaggerated depiction of the process. Apollo is the last bidder left and, as sources have indicated to us for some time, is bidding less than McGraw-Hill wanted, at something under $2.5 billion. Which only makes sense, since McGraw-Hill’s own SEC documents describing to shareholders what an indepedent Education company would look like listed $2.455 billion in assets, and an anticipated […]
