Gale parent company Cengage and McGraw-Hill to Merge
Cengage and McGraw-Hill to Merge, providing students with more affordable access to superior course materials and platforms
Educational publishers McGraw-Hill Education Inc and Cengage Learning Holdings II Inc are planning an all-stock merger, the Wall Street Journal reported on Wednesday.
The merged company will be titled McGraw Hill and will hold about $3.16 billion in annual revenue, both companies told the newspaper on Tuesday, adding that Cengage Learning Chief Executive Officer Michael Hansen will head the new firm.
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McGraw-Hill and Cengage Plan Merger
“McGraw-Hill Education and Cengage plan to announce a merger today, The Wall Street Journalreported. The combined company would be the second-largest provider of textbooks and other materials for higher education in the country, behind Pearson. The deal requires regulatory approval. The combined company would be called McGraw-Hill and would be led by Michael Hansen, CEO of Cengage.”