Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to consumers. Video
- Sopranos star James Gandolfini dies in Italy
- Special Report: Syria's Islamists seize control as moderates dither
- End to Fed stimulus, China slowdown rattles swathe of world investments
- Arizona killer who asked for speedy execution found dead in cell
- UPDATE 2-Storm Barry heads for Mexico Gulf coast oil installations
McGraw-Hill textbook unit sale now an all-cash deal
(Reuters) - The McGraw-Hill Cos Inc MHP.N said the $2.5 billion sale of its textbook business to private equity firm Apollo Global Management LLC (APO.N) is now an all-cash deal.
The company will receive $150 million in cash at closing instead of being issued $250 million of unsecured notes.
McGraw-Hill, the parent of credit ratings agency Standard & Poor's Corp, agreed last November to sell its McGraw-Hill education unit to Apollo.
Shares of the company, which have fallen by a fifth since last month when the U.S. government hit S&P with a $5 billion fraud lawsuit, closed at $47.14 on the New York Stock Exchange on Monday.
(Reporting by Aman Shah in Bangalore)
- Tweet this
- Share this
- Digg this