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Investors Push McGraw-Hill for Changes

Monday, 01 Aug 2011 06:01 PM

A Canadian teacher's pension fund and a New York hedge fund are pushing McGraw-Hill Cos Inc to boost its market value, and may agitate for steps like breaking off parts of the company.

The Ontario Teachers' Pension Fund and JANA Partners LLC said in a securities filing Monday that they bought 5.2 percent of the shares of the New York-based company, which produces textbooks and trade publications, runs nine television stations and owns ratings agency Standard & Poor's.

McGraw-Hill said in June that it is reviewing its businesses to make sure they make sense for the company, and decided to sell off its broadcasting group.

JANA said in its filing it has had discussions with McGraw-Hill about the company's operations, strategy, and future plans, Both investors said they may have more discussions along those lines with the company.

JANA and to a lesser extent Ontario Teachers' are known for buying stakes in companies and pressing for changes.

The Ontario Teachers' fund holds a 2.3 percent stake in McGraw-Hill, while JANA Partners holds a 2.9 percent stake in the company.

McGraw-Hill was not immediately available for comment.

McGraw-Hill previously owned BusinessWeek magazine, which it sold to Bloomberg LP, a competitor of Thomson Reuters Corp.

McGraw-Hill shares closed down 0.46 percent, or 19 cents, at $41.41 on the New York Stock Exchange.

© 2017 Thomson/Reuters. All rights reserved.

 
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A Canadian teacher's pension fund and a New York hedge fund are pushing McGraw-Hill Cos Incto boost its market value, and may agitate for steps like breaking off parts of the company. The Ontario Teachers' Pension Fund and JANA Partners LLC said in a securities filing...
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2011-01-01
Monday, 01 Aug 2011 06:01 PM
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