Jana, Pension Buy Up McGraw-Hill Stake, To Push For Change

Aug 2 2011 | 12:06pm ET

Activist hedge fund Jana Partners has teamed up with a major Canadian pension plan to push for the breakup of publisher McGraw-Hill Cos.

New York-based Jana and the Ontario Teachers Pension Plan revealed their 5.2% stake in McGraw-Hill, which publishes textbooks and owns a broadcasting division, Standard & Poor's, Platts energy information services and J.D. Power and Associates. The company said last month that it would sell the broadcasting unit, but that's not likely to assuage Jana and OTPP.

In their filing with the Securities and Exchange Commission, the two said that Jana has held talks with McGraw-Hill about "business, corporate structure, operations, management and board composition, strategy and future plans." The hedge fund warned that it "may take other steps seeking to bring about changes to increase shareholder value."


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of