McGraw-Hill Companies Inc (MHP.N) directors and executives met on Monday with Jana Partners LLC, a hedge fund, and the Ontario Teacher's Pension Fund to hear their arguments that the company should be broken up. Jana and the pension fund have a 5.6 percent stake in McGraw-Hill, which owns Standard & Poor's credit ratings business, textbook publisher McGraw-Hill Education, and assorted information businesses, the funds said in a filing on Monday. Jana included slides from the presentation in the filing to the Securities and Exchange Commission. The filing showed the shareholders have increased their holdings by 0.4 percent since an initial filing on Aug. 1. McGraw-Hill is already considering spinning off or selling the education business, a person familiar with the company said last week. In June, the company put its television stations up for sale.
The McGraw-Hill Companies, Inc. is a global information services provider serving the financial, education and business information markets, such as energy, automotive, construction, aerospace and defense, broadcasting and marketing/research information services. Shares of MHP traded higher by 0.11% or $0.04/share to $37.04. In the past year, the shares have traded as low as $27.08 and as high as $45.47. On average, 2736140 shares of MHP exchange hands on a given day and today's volume is recorded at 3060218.
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