McGraw-Hill Reveals Debt Plan For Spinoff Of Education Unit

Law360, Chicago (July 11, 2012, 6:14 PM EDT) -- McGraw-Hill Cos. Inc. revealed details Wednesday for the planned spinoff of its education business, saying in a regulatory filing that McGraw-Hill Education Inc. will incur up to $600 million in debt and that shareholders will get one share of its common stock for every three shares of the parent company's.

In a registration statement with the U.S. Securities and Exchange Commission, McGraw-Hill also said that its anticipated separation into two independent public companies — financial data provider McGraw-Hill Financial and textbook firm McGraw-Hill Education — will...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.