The sale of McGraw-Hill’s education unit to Apollo Global Management is expected to close before the end of the month now that the private equity firm has lined up financing for the acquisition. With that financing comes a slight revision of terms in which McGraw-Hill will receive more cash upon closing than planned, in exchange for what looks like a slight reduction of the selling price. The original agreement called for a price of approximately $2.5 billion, but that deal included McGraw-Hill providing $250 million of financing in the form of senior unsecured notes. But now McGraw-Hill says they will receive […]
