McGraw-Hill, Cengage to merge

McGraw-Hill and Cengage said May 1 that they agreed to combine in an all-stock merger. The deal will create the second-largest provider of college textbooks and other higher-education materials in the country, the Wall Street Journal said. Cengage Learning Holdings II was known as Thomson Learning before it was sold to a group of PE firms, including Apax Partners LLP, in 2007, the WSJ said. Apollo Global Management acquired McGraw-Hill Education Inc in 2013 for $2.4 billion.

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